Gold Coast, 1 June 2017: Billabong International Limited (ASX:BBG) (“Billabong” or “Company”) today announced the appointment of Jim Howell as Chief Financial Officer (CFO) of the Company, succeeding Peter Myers, who has served in the role since January 2013.
“Peter has played a pivotal role in steering Billabong through a complex and challenging period, including a significant streamlining of our portfolio of businesses and our operating structures. Following this period of restructuring, the focus is now even more concentrated on improving the operational performance of the business. In anticipation of this Peter and I have been planning for his succession for some time, and we believe the time is right to make a change to ensure that this next phase of Billabong’s transformation enjoys increasing operational oversight from the Group CFO,” said Billabong Chief Executive Officer, Neil Fiske.
Mr Fiske said: “Mr Howell, whose appointment comes after an extensive global search, has deep experience in retail, finance and operational management which is strongly aligned with Billabong’s business strategy.”
Mr Howell has spent the last 10 years leading the finance and treasury division at Nordstrom, one of the largest retailers in the United States, where he oversaw significant cost management improvements, capital management and growth initiatives.
He played a key role in the implementation of Nordstrom’s highly successful omni- channel retailing strategy, which has demonstrated consistent best in class financial performance.
Mr Howell will take up his new role on 12 June 2017, based in California.
The Chair of Billabong, Ian Pollard, said: “We are very pleased that we have been able to appoint Jim to the role as Group CFO. He brings considerable financial experience from the retail sector and together with Neil, will provide strong oversight as Billabong moves into the next phase of its strategy. I have no doubt that he will provide the necessary management of our finances to support the success of Billabong in the coming years and I look forward to working with Jim.”
Billabong CEO, Neil Fiske, added: “Jim’s experience aligns particularly well with our areas of focus. Our goal is to deliver long term sustainable growth in a highly competitive retail environment and Jim will both work alongside me on this while also providing me with an increased opportunity to connect with our global customers and stakeholders.”
Thanking Mr Myers for his work and commitment over the past four and a half years, Mr Pollard said: “Together with Neil, Pete has been integral to the reshaping of Billabong in line with the strategy. I am very pleased that Pete remains committed to supporting the Company as the CFO role transitions to Jim and has agreed to work with the leadership team over the coming months.”
Mr Fiske said: “Pete has been a terrific financial partner and strong leader for several years. We have established a strong foundation for improved operational performance with key global reforms in sourcing and logistics gaining traction. I wish him the very best for his future endeavours.”