Surfwear giant Billabong has boosted its management ranks with the appointment of two former executives from Super Retail Group and Target Australia, after knocking back two takeover bids from US private equity group TPG Capital.
Sally Pitkin, currently a non-executive director of Super Retail Group Limited, will join the Billabong group as a non-executive director, effective immediately, taking the number of directors on the board to eight in total.
Pitkin, a former corporate partner of law firm Clayton Utz, also holds roles as a non-executive director at defence force contractor ASC Pty Ltd, the committee for economic development of Australia and the export finance and insurance corporation and as a councillor of the Australian Institute of Company Directors (Queensland Council).
Billabong chairman Ted Kunkel said Pitkin, who will also take on the chair of the board's human resources and remuneration committee, will bring strong legal, governance and broad corporate and commercial experience to the board.
“Sally will bring valuable insight and expertise to Billabong at a time when the business is undergoing significant change,” he said.
Pitkin will also join former Target Australia managing director Launa Inman at Billabong, who has accepted a consultancy position with the retailer.
Inman, who relinquished her post at Target Australia in September last year, will act as a specialist retail consultant for Billabong, reporting directly to the board, while also juggling her role as a member of the World Retail Congress advisory board, non-executive director of the Commonwealth Bank of Australia, and a board member of Melbourne Fashion Week.
Kunkel said that Inman's 32 years of experience in the retail sector, along with her role at the country's largest apparel retailer, Target Australia, from 2005 to 2011 will be invaluable to the Billabong empire.
“The board has been actively seeking retail expertise and last year we started engagement with Launa,” he said.
“We were seeking an individual who could review the group's strategy and operational retail execution and provide direct feedback to the board. Launa's retail experience, particularly in the apparel sector both within Australia and offshore, made her ideal for the role.”
As previously reported on ragtrader.com.au, Billabong International recently received two takeover offers from US private equity group TPG Capital to acquire all of the shares in the company but has since rejected the bids because they “did not reflect the value of the company”.