Former Billabong CEO Derek O’Neill is reportedly recruiting his former colleagues to help set up a rival surfwear brand, after being ousted from the company with a $2.5 million payout in May last year.
Sue Mitchell of the AFR reports that O’Neill has joined Billabong’s former American head Paul Naude in a new venture.
O’Neill spent 20 years at Billabong; Naude spent 15 years at the company.
According to the Fin, Naude and O’Neill are recruiting senior Billabong executives after already having poached:
- Terry Strumpf, former VP of merchandising and design, and president of the Xcel brand; Rob McCarty, senior design director;
- Vince de la Pena, VP of the VonZiper eyewear brand; and
- Karen Sarver, VP of administration.
There’s more on the Fin.
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