AUSTRALIA: Billabong CFO White resigns
White will be replaced on an interim basis by Peter Bryant, the CFO of the company's Americas business
Craig White, chief financial officer of Billabong, has resigned from the Australian surfwear brand as it mulls a AUD524m (US$549.8m) takeover bid.
White, who has been at Billabong for seven years, will be replaced on an interim basis by Peter Bryant, the CFO of the company's Americas business. An international search is underway for a permanent replacement.
The resignation comes a day after Billabong saw its shares fall 13.3% after it issued another profit warning.
The Gold Coast-based company lowered its full-year forecast for earnings before interest, tax, depreciation and amortisation (EBITDA) to range from AUD85-92m in constant currency terms. This compares to earlier guidance of AUD100-110m, up on the AUD84m Billabong booked in 2012.
The surfwear brand said it will shortly implement a new organisational and reporting structure as part of its reorganisation plan.
Billabong is also considering a AUD524m buyout bid from board director Paul Naude, the former head of Billabong's Americas business, who is teaming up with New York-based private equity firm Sycamore Partners.
Australian surfwear brand Billabong has said takeover talks with two potential suitors have collapsed, as it lowered its full year profit forecast. ...
Australian surfwear brand Billabong is reportedly looking to sell its Canadian business as speculation mounts that a full takeover of the company is unilkely to proceed....
Kering-owned skatewear brand Volcom has appointed former Billabong executive Mandy Fry to the newly-created position as vice president of its women's division....
Australian surfwear brand Billabong has requested a voluntary suspension of trading in its shares so it can progress takeover discussions with interested parties....
Australian surfwear brand Billabong has placed its shares in another trading halt today (7 May) ahead of an update regarding the potential sale of the business....
Billabong has extended exclusive talks with Sycamore Partners and former Americas boss Paul Naude to consider the potential sale of the Australian surfwear brand. ...
Australian surfwear brand Billabong will enter ten days of exclusive talks with a consortium led by the former boss of the brand's America's division after the group cut its bid by 45% to AUD0.60 per ...
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...
- Yuan devaluation impact mixed for garment firms
- Will Vietnam struggle with impending trade deals?
- The new age of disruption on apparel production
- Kurt Cavano on “the Uberfication of everything”
- Gap bullish on China growth opportunities
- US Q2 in brief: J Crew, Aeropostale, Bebe Stores
- Luen Thai to continue investment in Vietnam
- Adidas seeking to resolve shoe supplier dispute
- Adidas files trademark suit against Forever 21
- China market woes could hit consumer spending
- Global Database of the Top 1000 Apparel Producers - Company Names, Financial Performance, and Contact Details
- Ethiopia – the emerging textile and clothing industry
- Myanmar's Garment Sector in 2015 - now with updated members' directory
- Global market review of lingerie - forecasts to 2020
- Global market review of swimwear - forecasts to 2019