Following its decision to decline a revised offer from TPG Capital to purchase the company for $3.30 per share, Billabong has appointed former Target Australia managing director Launa Inman as a retail advisor.
The company said she will review the group's retail strategy and operational retail execution and provide direct feedback to the board.
“Launa's retail experience, particularly in the apparel sector both within Australia and offshore, made her ideal for the role,” said Billabong chairman Ted Kunkel.
Launa has 32 years of experience in the retail sector and was the managing director of Target Australia from 2005-2011. Previously, she was managing director of stationery retailer Officeworks.
Inman is also a non-executive director of the Commonwealth Bank of Australia, a member of the World Retail Congress Advisory Board, a board member of Melbourne Fashion Week and a member of the Australian Institute of Company Directors.
The company also appointed Sally Pitkin as non-executive director. She is currently non-executive director of Super Retail, defence force contractor ASC, the Committee for Economic Development of Australia and the Export Finance and Insurance Corporation and a Councillor of the Australian Institute of Company Directors.
Kunkel said that Pitkin brings strong legal, governance and broad corporate and commercial experience to the company's board.