The COO at Kathmandu has gone

Brendon Thorne/Getty Images

Mark Todd, the chief operating officer and finance director of Kathmandu, is leaving the adventure clothing retailer.

He was acting chief executive through most of the 2015 financial year while the company awaited the start of CEO Xavier Simonet.

Todd, who joined the company in 1998, said he had decided to resign regardless of the outcome of the current takeover offer from Briscoe Group.

“I had contracted to stay with Kathmandu in my current role until July next year, but now with Xavier on board I feel it is the right time to step aside entirely,” he said.

He will be replaced as the company’s senior finance executive Reuben Case.

Kathmandu has rejected a $324 million takeover bid from the New Zealand based Briscoe.

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