Davie joined from PricewaterhouseCoopers in July last year and even enjoyed a brief spell at the Harrods helm after the departure of Max Rigelman as managing director in April.
But this July the appointment of Richard Simonin as chief executive relieved Davie of command. He returned to his original role as finance director.
The Times reported sources close to Harrods as suggesting Davie had lost favour with Mohamed Al Fayed, the Harrods chairman.
The Knightsbridge store was not available for comment.