Former Target Executive Named Billabong Chief
Influential, but troubled, Australian surfwear maker Billabong International Ltd. appointed Launa Inman as its managing director and chief executive officer on May 9.
Inman, who recently retired as managing director of Target Australia, replaced Derek O’Neill, who was the surfwear maker’s chief executive since January 2003. He had worked for Billabong for more than 20 years and left the company on May 8. O’Neill was ousted from the company after Billabong reported in February that its six months’ earnings ending Dec. 31, 2011, plummeted by 70 percent to $16 million (Australian dollars).
Inman’s deep experience with retail, supply- chain management, finance, strategic planning and brand marketing are needed to turn Billabong around, said Ted Kunkel, Billabong’s chairman. The surf giant employs 6,000 people around the world and owns popular activewear fashion and accessories brands Element, Von Zipper, Honolua Surf Co., Kustom, Xcel, Tigerlily, Sector 9, DaKine and RVCA.
In a statement, Inman said the surfwear maker would be making retail changes. “The first priorities of the turnaround strategy will be to extract greater value from our retail network and strengthening supply management,” Inman said. Billabong also will seek to sell 150 underperforming stores.
As one Billabong executive leaves, another was given an expanded role within the company. Paul Naudé, currently head of North American operations, based in Irvine, Calif., was named Billabong’s president of the Americas.
Naudé will be responsible for the rapidly growing South American market as well as North America and Canada. Naudé will continue to serve as an executive director on Billabong’s board, and he will report to Inman. —Andrew Asch
