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Billabong names Launa Inman as CEO

09
May '12
Billabong International Limited appointed Launa Inman as Managing Director and Chief Executive Officer.

Ms Inman, who starts on 14 May 2012, replaces Derek O'Neill who departs the company.
Billabong Chairman Ted Kunkel said Ms Inman's skills and depth of experience in retail, supply chain management, finance, strategic planning and brand marketing will be crucial to Billabong's future growth.

“Launa has proven leadership capabilities in managing and delivering results in challenging environments and uncertain times."

Mr. Kunkel said Ms Inman was one of the leading retail chief executives in Australia and would bring fresh perspective, energy and drive to the Billabong group.

"Launa's appointment recognises the tremendous importance retail has assumed in our business."

Ms. Inman said: "Billabong owns a family of brands that are among some of most iconic in Australia and the world, and I'm thrilled to have the opportunity to work with the Company.

"We need to continue to drive our turnaround strategy, moving to a fully integrated operating model powered by the strength of our brands. The first priorities of the turnaround strategy will be to extract greater value from our retail network and strengthening supply chain management. This will provide the opportunity for Billabong's family of brands to meet their full potential".

Ms Inman has spent the past two months consulting with Billabong, following her retirement from Target Australia after seven years as Managing Director. Prior to Target, she was Managing Director of Officeworks, the largest stationery and office technology retailer in Australia. She is also a member of the Board of The Commonwealth Bank of Australia.

The board, has also announced Paul Naude, currently head of North America will be appointed to the expanded role of President of the Americas, and will assume additional responsibility for the fast-growing South American market as well as the US and Canada. Mr. Naude will continue to report to the CEO and will remain as an Executive Director on the board. .

"Paul's considerable experience and leadership role in the boardsports industry is very complementary to Launa's extensive skill set," Mr. Kunkel said.

"The combination of Billabong's iconic brands, developing retail capabilities and the depth of boardsports market knowledge across the senior executive team, provides us with a powerful foundation for future growth."

Mr Kunkel said the board had decided that the company required new leadership and skill sets for the next stage of its development.

"Derek O'Neill has been with Billabong for more than 20 years and we thank him for his service and wish him all the best for the future," he said.

A summary of the key terms of Ms Inman's employment agreement with Billabong International is attached.

Billabong International Limited


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