Billabong: Has welcomed yet another board member.

Billabong boosts board

Surfwear giant Billabong has added to its board once again, following a tumultuous month.

The company, which earlier this month saw a second takeover bid withdrawn by US private equity group TPG, has now confirmed the appointment of Howard Mowlem to its board of directors as it looks to further strengthen the business.

Mowlem was appointed as a non-executive director of Billabong International Limited at a board meeting following the company’s annual general meeting earlier this week, and he will also take on the chair of the Audit Committee following the retirement of Allan McDonald from the board.

According to the company, Mowlem is experienced in many segments of the international retail industry and specifically in Asia.

From 2001 to 2010 he was chief financial officer of Dairy Farm International Holdings Limited, a Hong Kong-based retail company operating over 5,000 stores across Asia with turnover in excess of US$10 billion.

Prior to this Mowlem held various senior financial positions over a 12 year period with the Coles Myer Group and has extensive experience in corporate finance, mergers & acquisitions, financial reporting, treasury, tax, investor relations, audit and governance.

Commenting on the latest addition to the Billabong board, chairman Ted Kunkel said Mowlem also brings experience in negotiating and integrating retail acquisitions and joint ventures, and leading a program of divestments.

“Howard brings experience as a board member of both listed and unlisted companies, including chairmanship of a number of Audit Committees,” Kunkel said.

The appointment is part of the board succession announced at last year’s annual general meeting.

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