Billabong International Limited said Paul Naude has resigned from his positions as a director and employee of the company to pursue other opportunities. Naude most recently served as president, Americas.
Naude led Billabong’s Americas operation for 15 years and was a key member of the Billabong executive team.
The
company also announced that as planned, CEO Launa Inman had stepped
down from her executive role and from the board of directors.
Meanwhile, discussions with Scott Olivet regarding his appointment as CEO are continuing but have not been finalized as Billabong awaits the outcome of the Takeovers Panel’s deliberations. This may take a week or more. In the interim Scott will act as a consultant and Peter Myers will be acting CEO.
The management changes follow the announcement on July 16 that Billabong had entered into commitment letters with the Altamont Consortium and GE Capital to provide a long term financing package for Billabong.
