Billabong has announced the departure of Centerbridge Partners' senior managing director Jason Mozingo from its board, effective immediately.
Centerbridge has since appointed managing director Elliott Weinstein as its nominee director to Billabong's board.
Mozingo departed the business, citing an interest in pursing smaller business investment ventures as the reason.
Billabong chair Ian Pollard thanked Mozingo for his years of service, wishing him the best with his future endeavours.
“The company has benefited greatly from Mr. Mozingo’s considerable experience and invaluable input."
Weinstein, who is focused heavily on investments within the retail and consumer sector, also served within the Investment Banking Division at Goldman, Sachs & Co.
This is the second senior shift within the company, following the appointment of Jim Howell to the role of chief financial officer last month, succeeding Peter Myers.
Billabong CEO Neil Fiske said the business has come out of its redevelopment phase and was now looking at continued improvements, company wide.
“Following this period of restructuring, the focus is now even more concentrated on improving the operational performance of the business.”