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The CEO of Kathmandu has resigned after more than five years with the listed outdoor equipment retailer.
Xavier Simonet would take on a senior position in the Australian public service, the company told the New Zealand and Australian equity markets on Monday.
It was later announced that Simonet had been appointed the new chief executive of Austrade, the Australian Trade and Investment Commission.
Kathmandu President David Kirk said the company was disappointed that Simonet was leaving.
“Xavier has led Kathmandu Holdings through a period of growth and repositioning of the company,” said Kirk.
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Simonet would stay on the job for up to six months while Kathmandu searched for a replacement.
In the announcement, Simonet said that the last five years with the company had been exciting.
Before Kathmandu, Simonet, an Australian citizen, was the CEO of British handbag firm Radley and had worked for luxury brand LVMH, underwear firm DB Apparel, and Australian swimwear company Seafolly.
Supplied / Supplied
Kathmandu Holdings CEO Xavier Simonet has resigned to take up a position in the Australian public service.
During his tenure, Kathmandu rejected a takeover bid from Briscoes Group, bought the American outdoor footwear company Oboz and the surfwear company Rip Curl.
In September, Kathmandu reported an after-tax profit of $ 8.9 million for the year through July 31, down from $ 57.6 million last year.
At the time, the company said that sales had been hit hard by store closures during the Covid-19 closures in New Zealand and Australia.
Sales were down $ 135 million from its retail and wholesale businesses.
At the same time, online sales had strengthened for the company.
Online sales of $ 106.4 million were up 63% from last year and accounted for 15.7% of total sales.
Results for the first quarter of 2021, reported on November 25, showed that the company had continued to struggle with store closures due to the global pandemic.
