Surfstitch replaces CEO

Surfstitch has appointed joint CEOs, following a shock executive departure and potential takeover bid.

Surfstitch executives Lex Pedersen and Justin Stone have been appointed as joint CEOs.

This follows the surprise departure of CEO and co-founder Justin Cameron on March 10.

The departure was linked to a potential private equity takeover for the online surfwear retailer.

Penderson and Stone are both Surfstitch, with the former heading up its Swell Unit and the later managing its European arm.

Surfstitch has not confirmed the receipt of a formal or informal acquisition proposal.