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Rip Curl reshuffle

 

ripcurlAustralia Post chief, Ahmed Fahour, has stepped down as chairman and a director of surfwear company, Rip Curl.

In a letter sent to Rip Curl staff, and obtained by Fairfax Media, Fahour said he had enjoyed his 10 years with the retailer but that good corporate governance and his other significant business commitments meant it was the right time ”to move on”.

”In the corporate world, a term of 10 years by an independent director/chairman is generally considered a maximum under good corporate governance rules,” Fahour stated.

Fahour said he would remain a shareholder in the privately owned company. According to Fairfax, Fahour’s personal stake in the company is believed to be worth about $2.5 million.

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One Response to Rip Curl reshuffle

  1. Matt K March 4, 2014 at 12:44 pm #

    Don’t be surprised if Ahmed is the next CEO of the AFL. He has close connections at Carlton, and therefore Mike Fitzpatrick. Now Ahmed’s now talking about other significant commitments.

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