Extraordinary pressure mounts on CEO Nick Abboud.

Just days after Dick Smith released its second downgrade in a month, opening a Pandora’s box of challenges for the CE industry, former Big W head of trade and family entertainment, Algy Pereira (pictured) has suddenly been parachuted into the company as director of retail operations.

Algy Pereira The news of this appointment is  likely to bring some confidence back  to shareholders who have deserted  the retailer in the wake of the latest  downgrade.

However, Pereira is not likely to lend  a hand for several months as he  serves out a non-compete period  negotiated with his former employer.

It’s believed that Pereira had been  talking to Dick Smith about the role  for some time but the company has  denied that he has been brought in as  an immediate replacement for  Abboud.  The company has oddly  described it “as part of internal  succession planning.”