Only by embracing diversity in the workforce can businesses survive in the face of unprecedented disruption, former David Jones CEO Paul Zahra has told a QUT Business Leaders' Forum.
In his first public speaking engagement since leaving David Jones after its takeover last year, Mr Zahra spoke of his journey from a 16-year-old sales assistant to head of the country's iconic 175-year-old retailer.
The first openly gay CEO on the ASX 200, Mr Zahra pinpointed diversity as essential for a company to adapt and thrive.
"The net result of a more diverse, inclusive workplace is a far more productive, functional, innovative and high performance culture," he told the audience at the Hilton Brisbane.
"I have no doubt that recognising and respecting people's differences and celebrating diversity will be key to our commercial future."
Mr Zahra, the son of Maltese migrants who considered "marriage to a nice Maltese girl a measure of success", was disowned by his parents after coming out aged 24 and only recently reconnected with them 25 years later.
As a child Mr Zahra said he dreamed about working in a retail store and he started his career as a sales assistant at Target. Rising through the ranks quickly, he was Target's youngest store manager in history aged 22 before accepting it was "time to acknowledge my difference."
"For the first time I realised that the values I'd espoused were not the ones I was personally living," he said.
"I was quickly moving up the corporate ladder and winning many company awards. I was turning up to company events looking the part, girlfriend in tow. And I'd become an expert at being somebody else, but not me."
Mr Zahra said there was "no doubt" there were times his coming out had "worked against me" and that his leadership style had been influenced by the challenges he faced.
"I understood from my own rather painful experiences that acceptance and inclusion are vital to our sense of wellbeing and our ability to be able to operate creatively and productively," he said.
"Nobody should have to check their identity or their personality at the door, nobody should have to lie to be accepted. Everyone should be allowed to bring their true selves to work.
"Diversity of people brings about diversity of thought. Not only is having a diverse and inclusive workforce the right thing to do, it's also good for business."
After taking the reins at David Jones in 2010, Mr Zahra led the multi-billion dollar business through a roller-coaster four years, characterised by a "perfect storm" hitting the retail sector and an urgent need to transform the company.
"With all of this going on, David Jones had no digital strategy and a web store that had been closed in 2003 so we were simply not prepared," he said.
Mr Zahra said David Jones' shift to become an omni-channel retailer - allowing customers to shop across tablet, mobile, online and the physical store in a seamless way - was "the future of retail".
"The achievements were significant and the changes historic. The company was able to make more complex changes in three years than it did in its entire history," he said.
"Against adversity, the company was saved."
Now a global retail advisor and member of the PwC Diversity and Inclusion Advisory Board, Mr Zahra urged people to "follow your passion, rather than your destiny", arguing he would have been a lifetime customs officer if he'd followed his parents wishes.
"And that nice Maltese girl they wanted me to marry? Well, his name is Duncan," he said.
Media contact:
Rob Kidd, QUT Media, 07 3138 1841, rj.kidd@qut.edu.au
After hours, Rose Trapnell, 0407 585 901
