London - Surfwear label Billabong has appointed Jim Howell as its Chief Financial Officer. He succeeds Peter Myers, who served as Billabong's CFO since January 2013.
Set to take on his new role at the struggling retailer on June 12, Howell joins the team at Billabong from Nordstrom, where he spent the past 10 years leading the finance and treasury division. During his ten year tenure at Billabong, Howell was credited with overseeing significant cost management improvements, capital management, and growth initiatives.
"Jim’s experience aligns particularly well with our areas of focus," said Billabong CEO, Neil Fiske on Howell's appointment. "Our goal is to deliver long-term sustainable growth in a highly competitive retail environment and Jim will both work alongside me on this while also providing me with an increased opportunity to connect with our global customers and stakeholders."
In his new role at Billabong, Howell has been tasked with strengthening the retailer's strategy, as the surfwear retailer continues to struggle. Billabong previously downgraded its full-year earnings guidance in February, following a report 16.1 million USD loss for the first half of fiscal year 2017.
"We are very pleased that we have been able to appoint Jim to the role as Group CFO. He brings considerable financial experience from the retail sector and together with Neil, will provide strong oversight as Billabong moves into the next phase of its strategy," said The Chair of Billabong, Ian Pollard. "I have no doubt that he will provide the necessary management of our finances to support the success of Billabong in the coming years and I look forward to working with Jim."
Fiske added: "Following this period of restructuring, the focus is now even more concentrated on improving the operational performance of the business. In anticipation of this Peter and I have been planning for his succession for some time, and we believe the time is right to make a change to ensure that this next phase of Billabong’s transformation enjoys increasing operational oversight from the Group CFO."
"Mr. Howell, whose appointment comes after an extensive global search, has deep experience in retail, finance and operational management which is strongly aligned with Billabong’s business strategy."
Photo: Billabong website