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.

Comments

1 comment

  1. Matt K posted on March 4, 2014

    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. reply

Comment Manually

Inside Retail Polls

Woolworths' turnaround strategy update
Is Woolworths on the right track with its latest turnaround strategy to slash jobs and close stores?

Inside Retail Directory

Twitter

Owner of The Athletes Foot, Dr Martens and Platypus networks across ANZ delivers sharp profit rise. https://t.co/210eOETnrf

3 days ago

Why rampant discounting has made luxury retail unfashionable. https://t.co/zce4XhSlq2

3 days ago

Food retail operator’s profit swells as they complete purchase of a Victorian based food manufacturer. https://t.co/qTThMsRtoq

3 days ago
x

SUBSCRIBE
FREE NEWS BRIEFS Get breaking news delivered

banner