Kathmandu Holdings [NZX: KMD] chief executive Peter Halkett will leave the outdoor equipment chain in late November, having led the company for eight years.
Halkett will depart on Nov. 25 after giving his notice of resignation, and will take up to a year off when he leaves the retailer, Kathmandu said in a statement. The board and executive are working on a transition plan, and Kathmandu's directors will look at options to find a replacement in the coming weeks. Chief operating office Mark Todd will act as chief executive in the interim.
" Kathmandu has continued to flourish as a public company under Peter's leadership and in particular has grown rapidly and profitably in Australia," chairman David Kirk said. "He has built a strong team of executives around him and leaves the company well positioned for continuing growth."
Halkett took a leave of absence last year to recuperate from a severe infection after a routine medical procedure. Todd was acting CEO in his absence.
Shares of Kathmandu were unchanged at $3.37 today, and have slipped 4 percent this year. The shares were sold at $2.13 apiece in an initial public offer in 2009 in the first major float after the global financial crisis sapped investor appetite for public markets.
Earlier this month, the Christchurch-based company said earnings before interest and tax was $62.5 million to $65.5 million in the year ended July 31, from $63.4 million the year earlier, as a cold snap in July helped generate more sales than anticipated.
This article is tagged with the following keywords. Find out more about MyNBR Tags
- Craig expected to seek judge-only High Court review of jury's $1.27m damages decision
- ACC buys high, sells low as Intueri surprises investors with cascade of bad news
- Super Fund suspected window dressing at Milford
- Pumpkin Patch has three weeks to come up with options for bank
- Stonewood Homes liquidation becoming murkier
Most listened to
- Week in Review: a wrap of NBR Radio's top stories, interviews and analysis
- Craig-Williams trial: Otago University defamation specialist on 'Where to from here?"
- Testy exchange over Super Fund evidence
- 'It’s not as big as it was last year but it’s still the biggest game in town' – Paul Maher talks up TVNZ's audience
- Hydroworks CEO Andrew Rodwell on the company's prospects post-funding.