SES followed up with Global Surf Industries to find out more about its new ownership structure.
This week, GSI announced that CEO Mark Kelly now owns the entire company.
What was the ownership structure before?
Mark Kelly: I was a minority shareholder with a 30% stake.
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Why the change?
Mark Kelly: After 13 years, the goals of the shareholders had drifted apart. For any company, when major shareholders aren’t on the same page, it’s not very helpful for the business short or long term. A change was well overdue.
What does this mean for the business going forward?
Mark Kelly: It’s fantastic. My total focus, with the support of all staff, is on developing the business to be one of the best suppliers to our industry.
Product development, excellent service and an ease of doing business are all key focus areas. During any period like the one we have just been through, there is a massive energy flow away from development. I’m super stoked that all my energy can now be spent on the development and evolution of our products, brands and overall business.
How is business going so far in 2015?
Mark Kelly: 2015 is better than 2014 for sure. Summer seemed to have a late start and the port strike in LA in the first quarter was really terrible for business. Things are back to normal now. Retailers seem to be running a pretty cautious program still.
Any interesting trends and/or changes going on?
Mark Kelly: Lots of dealers are using our online ordering and inventory platforms. It’s great to see dealers embracing technology.
Demand for new products that excite end users is really high. Stand Up paddling is still strong for us. Haydenshapes Hypto Krypto continues to increase demand as more and more surfers are introduced to this amazing board.
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