Paul Naude has resigned as an employee and board member of Billabong to pursue other opportunities, Billabong said Monday.
Paul led Billabong’s Americas operation for 15 years and was a key member of the Billabong executive team.
The company also announced that as planned, CEO Launa Inman had stepped down from her executive role and from the board of directors. Her last day was Aug. 2.
That change at the CEO level was a result of the company’s refinancing transaction with Altamont Capital Partners.
In addition, Billabong said that Scott Olivet, who was supposed to move into the CEO role, has not yet done so.
Talks with Olivet are continuing and the company is awaiting the outcome of Australia’s Takeovers Panel, which is hearing a complaint from a late bidder for Billabong that the process surrounding the refinancing transaction was unfair.
The late bidders bought Billabong’s debt at a discount not long before the Altamont deal was finalized.
Billabong said it could be a week or more before it knows the outcome of the Takeovers Panel deliberations.
In the meantime, Olivet is working as a consultant and Peter Myers is acting CEO.
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Editor’s note: Read our in-depth interview with Scott Olivet here
We also talked to top executives who have worked with Scott at Oakley, Skullcandy, Nike and other companies, and wrote a profile of Scott Olivet when the Billabong/Altamont news broke.
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