AUSTRALIA: Billabong names Myers as CFO
Australian surfwear brand Billabong has appointed Peter Myers as group chief financial officer, replacing Craig White who resigned last month.
The company said Myers has extensive experience working on a number of successful and complex transactions including IPOs, takeovers, refinancing and acquisitions.
He has also held various senior executive positions at media group APN News & Media and Network Ten.
"Peter has over 30 years experience and insight at both a corporate and an operational level," said Billabong CEO Launa Inman. "He understands the company's current position, has a deep understanding of working with a wider team in implementing transformational strategies and will make a valuable contribution."
The appointment comes after Billabong opened its books to a consortium comprising 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.
They made an AUD524m (US$549.8m) takeover bid for the company at the end of last year.
Last month, the struggling brand lowered its full-year forecast for earnings before interest, tax, depreciation and amortisation (EBITDA) to between AUD85m and AUD$92m.
Participants in Australian surfwear brand Billabong's AUD280m (US$255.3m) debt syndicate have reportedly exited their positions at a discount....
Billabong International Ltd anticipates that the current challenging trading conditions and difficult retail landscape in Australia will continue over the coming financial year. Despite reporting sale...
Ailing Australian surfwear brand Billabong today (25 June) confirmed that refinancing and asset sale discussions with former suitors Altamont Capital Partners and Sycamore Partners are "well advanced"...
Cautious consumer spending continued to impact clothing accessories in Australia in 2012, with the category experiencing 1% retail value growth from a similar rate of volume growth. Volumes within the...
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....
- When will Gap get back on track?
- Software solutions enhance speed and visibility
- Portugal footwear makers underpin industry growth
- Supply chain weighs on Kering's green footprint
- Bangladesh factory safety progressing slowly
- Q1 apparel results in brief: Brown Shoe Co, Belk
- China to reduce apparel import taxes
- Indonesian textile sector sees 6,000 lay-offs
- Vietnam garment staff return after faintings
- New black dye meets sustainability standards