AUSTRALIA: Billabong appoints Pollard as chairman elect
Australian surfwear brand Billabong has appointed Ian Pollard as a director and chairman elect of its board.
Pollard is an actuary, Rhodes Scholar and a fellow of the Australian Institute of Company Directors. He has held a wide range of senior business roles, including chairman of Just Jeans, and of Corporate Express Australia, as well as a director of OPSM Group and DCA Group.
Billabong highlighted Pollard's extensive background in corporate finance, strategic investment and retail. He will chair the audit committee on an interim basis, following the retirement of board member Allan McDonald on 24 October.
Private equity firm TPG is carrying out due diligence on Billabong after offering A$695m for the company in July.
Outgoing chairman Ted Kunkel announced earlier this year that he planned to retire, after seven years in the position. He will remain as chairman pending the due diligence outcome. In the event that Billabong remains publicly listed, he will stay on to ensure a smooth board transition.
"Ian will bring a strong mix of commercial and financial expertise to assist with the ongoing transformation of the Billabong business," said Kunkel.
"His understanding of the retail environment along with a strong focus on financial management and performance will serve the company and shareholder interests well".
Last week, the company emphasised that takeover talks are continuing with the private equity firm after an Australian newspaper reported that TPG Capital was considering pulling out.
The most read stories on just-style this week include a look at apparel software trends, concerns that a recent surge in cotton prices is due to China building its reserves, and PVH's surprise that in...
Billabong has indefinitely suspended its shares from trading as it continues takeover talks with its two suitors. ...
Australian surfwear brand Billabong has halted trading in its shares while negotiations continue with its two suitors. ...
Australian surfwear brand Billabong halted trading in its shares today (21 March) after its share price plummeted 14.2% on concerns about a potential takeover offer expected next week. ...
The most read stories on just-style this week include a look at how sourcing is going to be in 2013, a spotlight on why buyer interest in Billabong has not yet turned into a deal, and M&S extending it...
Australian surfwear brand Billabong has received a rival bid for the brand from VF Corp and private equity firm Altamont Capital Partners, which matches an offer from US boss Paul Naude and Sycamore P...
- Synergies Worldwide CEO unravels sourcing shifts
- Why have US FTA imports fallen to a record low?
- First figures show Bangladesh exports climb
- Collaboration key to the future of smart textiles
- Rana Plaza three years on – Timeline of change
- Hanesbrands to buy Pacific Brands for $800m
- Improving traceability a key industry challenge
- Retailer Austin Reed goes into administration
- Inditex renews global trade union agreement
- C&A selects PLM to boost product development