Why the Kathmandu (ASX:KMD) share price will be on watch today

The company announced a major leadership change.
The post Why the Kathmandu (ASX:KMD) share price will be on watch today appeared first on The Motley Fool Australia. –

The Kathmandu Holdings Ltd (ASX: KMD) share price will be one to lookout for on Friday morning. This comes after the adventure retailer announced a new head for its Rip Curl brand.

After yesterday’s market close, Kathmandu shares sitting at $1.31.

Kathmandu appoints new CEO

In a statement to the ASX, Kathmandu advised Brooke Farris will take on the position of CEO for Rip Curl.

Following a thorough search process involving internal and external candidates, Ms Farris was selected due to her strong track record.

Ms Farris began working for Rip Curl in 2010, where she held a number of various roles. This included running Rip Curl surf events across the globe, executing marketing strategies as the ANZ marketing manager, and more.

Most notably, Ms Farris took on the role of general manager of digital, which led to strong sales growth online.

Ms Farris will assume the Rip Curl CEO position effective from next Monday 16 August 2021.

Kathmandu group CEO and managing director, Michael Daly said:

Brooke has contributed greatly to Rip Curl’s success and growth over the past 11 years with her indisputable commitment to the brand, our product, and our crew. I am confident she will bring this same commitment and leadership in her new role.

Incoming Rip Curl CEO, Brooke Farris commented:

Rip Curl has been threaded throughout my life since I was a teen. I’m honoured to be announced as the new CEO. It’s an absolute privilege to lead our talented and passionate crew across the world and I’m motivated to build on our esteemed 52-year history and capitalise on our continued market success.

About the Kathmandu share price

Since the start of June, Kathmandu shares have been on a continuing decline, down around 15%. However, when looking further back, the company’s share price is up 11% year to date.

Kathmandu presides a market capitalisation of roughly $928.8 million, with approximately 709 million shares on its books.

The post Why the Kathmandu (ASX:KMD) share price will be on watch today appeared first on The Motley Fool Australia.

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Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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