Its official. Billabong has appointed their COO. The brand that has become famous with surfing has anointed Jeff Streader as their new Chief Operations Officer. This comes after BillaBong’s recent higher of Mark Weber as men’s global merchandising & design vice president in March. Streader left his position as an operating officer at the investment firm Marlin Equity. There he specialized in new retail investment opportunities with a focus on textile and footwear companies.
Neil Fiske, CEO of BillaBong, enthusiastically stated “Jeff’s deep experience in global supply chain and operations will help us build the global platforms we need to improve our speed to market, inventory turn, and product margins.” BillaBong has been making big moves. They will be acquiring a lot of valuable resources and knowledge by hiring Streader. He has held executive positions with Guess?,Kellwood, VF Corporation, Fasturn, and Oxford Industries.
Straeder appears to be just what BillaBong has been looking for. Though their stores that have been open for over a year reported a 3% gain, the brand has overall reported negative statistics. For the six months leading up to this past December the company has admitted to a $113.8 million dollar loss. Fiske conceded “I am pleased with the progress we have made, but make no mistake, this is a complex, difficult turnaround.” Straeder looks be an integral part of BillaBong’s recovery. Let’s hope he has what it takes to get the job done.
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