Skip to content Skip to navigation

Layoffs at Billabong, Naude update

Print Friendly and PDF
  • Retailer favorite, Jeff Booth. Shop-eat-surf file photo.

In more Billabong news, several senior Billabong employees in the Americas were laid off today, including well-known sales executives.

Names on the list include retailer favorites Jeff Booth, Men’s National Sales Manager, Angi Broberg, Billabong Girls National Sales Manager, and Royce Cansler, who handled surf retail relations.

Royce Cansler, Jeff Booth, George Karamitos of Maui Nix, Richard Sanders, and Angi Broberg at Surf Expo in January. Royce, Jeff, and Angi were let go today as part of a restructuring. Shop-eat-surf file photo.Others with key jobs included Berta Dos Santos, Chris Cole, Shelly Ryan and Mike Figueroa.

Billabong announced earlier today that a total sale of the company is off the table, and that it is exploring refinancing and asset sale proposals submitted by Sycamore Partners and Altamont Capital Partners.

A person with knowledge of the circumstances told me that Paul Naude is still involved in the Sycamore bid.

While the announcement today means that a change in ownership of the company will not happen, I am told management changes at the top are still possible if some of the deals under consideration are approved by the board.

Separately, I confirmed with Billabong in Australia this week that Paul’s leave of absence from the company is in effect, and that he is still officially a company employee.

In its announcement today, Billabong said cost cutting will continue across the globe as the company looks to restructure its business. The cuts come as Billabong prepares to wrap up its financial year at the end of June.

The company's stock plunged more than 40% and was trading at 26 cents in Australia Tuesday.

 

OUR SPONSORS

OUR SPONSORS

More news

Last updated: : 07/27/2017 - 15:36

Kering released details about Volcom's first half results today. We have the numbers, and talk to CEO Todd Hymel about what they say about Volcom's business and the overall market.

Last updated: : 07/26/2017 - 12:14

Given the skeptical view of environmental issues in the new administration, we talk with the SIMA Environmental Fund President about the need for the industry to come together to protect the future of the surfing lifestyle and business

Last updated: : 07/25/2017 - 04:21

Details about Vans' stellar Q2, plus information about the brand's eye-popping store comp increases

Last updated: : 07/26/2017 - 12:13

Doug Palladini shares the thinking behind Vans first proper headquarters in 51 years, and we discuss his first year as company President

Last updated: : 07/24/2017 - 11:28

Swim brands from across the world came out to Miami Swim Week to show their Spring and Resort 2018 lines

Last updated: : 07/24/2017 - 06:15

Billabong hosted a cocktail party for retailers Sunday at the W Hotel during Miami Swim Week

Last updated: : 07/21/2017 - 09:30

We talk to Eric about why he is optimistic about "craft" retail and the industry, why retailers shouldn't take money for windows from brands that have grown beyond the core, and which newer brand may be on the brink of big things

Last updated: : 07/19/2017 - 16:14

Partner Stephen Bruner on barware brand Corkcicle's growing presence at surf retail and why they think their boutique approach is an advantage over more widely distributed water bottle competitors

 

Last updated: : 07/18/2017 - 07:56

An interesting talk with Frank Messmann about the challenging hardgoods market, future plans for Penny, and why he has added brands like Arbor to the Absolute portfolio

Last updated: : 07/17/2017 - 14:39

The first ever Agenda Festival opened its doors to the public Saturday in Long Beach for a music and shopping experience in skate, surf, street culture, food and art