MELBOURNE: Clothing wholesaler Mercury Brands has undergone an executive reshuffle.
Brendan Santamaria resigned from the group's board of directors and assumed the role of chief executive. Santamaria would focus on sales and marketing, product design, manufacturing and logistics.
Top Mercury Brands shareholder Phillip Thomas had been appointed as managing director and would focus on the development investor and financial relations. This would be his first venture into licensed fashion merchandising, following an executive position at listed exploration company Admiralty Resources.
Chairman Michael Abela said he was confident Thomas would help to manage capital structure and deliver acquisition growth. Last year, Mercury Brands acquired St Kilda-based fashion house The Factoree, which included labels ESC, J & Company, Lifetime Collection, Black Orchid and headwear brand Kangol.
The company also engaged the services of consultancy firm 333 in 2008 following significant profit losses. Abela said the latest appointments were part of a broader strategy to turn around profitability within the next 12 months.