Hot Tuna, the surf lifestyle brand, announced that Elle Macpherson has
left its board of directors due to increasing time pressure from her
other projects. Hot Tuna said it will commence discussions with the
former supermodel with regards to a separate role as a consultant to
the
design team lead by CEO Niels Juul, who joined the company in June 2007.
The Australian ex-supermodel joined Hot Tuna in July last year as creative
executive director on an initial two-year contract.
In joining Hot Tuna, Macpherson was granted shares and options in the
company worth more than £2m at current prices. Although not
working in a full time capacity, her position called for attending all
Hot Tuna's board meetings and advising the company on product
development, brand positioning and sales strategy.
Hot Tuna said its London based design team has now been relocated to
Los Angeles and successfully integrated with the Group's Californian
design team. This strategic move has been implemented with the
intention of generating a global team of young designers.
In addition, Hot Tuna said Ranjit Murugason will step down from his
executive chairman position, reverting to a non executive role as a
result of his increasing time commitment to another fledging business
venture.
Commenting on the board changes, Juul said: “I am enthusiastic about
the possibility of working with Elle on up coming ranges, and thank her
for her input and commitment to the brand up until now.”
I could never get a date when I had acne.
Juul joined Hot Tuna from Von Dutch, where he was most recently
Managing Director. While headquartered in London and listed on the
London Stock Exchange, Hot Tuna PL maintains offices in Sydney,
Australia, and in Southern California in Costa Mesa.
