- Kathmandu Holdings (KMD) has appointed the boss of Rip Curl as its new Group CEO, effective immediately
- Michael Daly has been appointed to the position of Group Chief Executive Officer and Managing Director following an extensive international search, having previously led Rip Curl for eight years
- He succeeds Xavier Simonet, who announced his resignation to take the role of CEO of the Australian Trade and Investment Commission
- Kathmandu shares last traded at $1.49
Kathmandu Holdings (KMD) has appointed the boss of Rip Curl as its new group CEO, effective immediately.
Michael Daly has been appointed to the position of Group Chief Executive Officer and Managing Director of the travel and adventure outdoor retailer following an extensive international search.
He will succeed Xavier Simonet, who announced his resignation at the end of 2020 to take the role of CEO of the Australian Trade and Investment Commission, after more than five years in the top job at Kathmandu.
Michael previously led Rip Curl as Chief Executive for eight years.
“Michael has led Rip Curl for 8 years with a relentless focus on brand, product, people and the bottom line and we are confident he will bring the same focus and energy to the wider Group,” said Chairman of Kathmandu Holdings, David Kirk.
“This is an exciting next step for me,” said Michael Daly.
“The Group has a portfolio of outstanding brands in Kathmandu, Rip Curl and Oboz and I am looking forward to leading three great teams as we work together to grow and develop the Group,” he added.
The outdoors retailer acquired Rip Curl in October 2019 for $350 million. Rip Curl is currently in the process of appointing Michael’s successor.
Kathmandu shares last traded at $1.49 on May 18.