Published
Jul 18, 2016
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Surfstitch chairman walks

Published
Jul 18, 2016

Surfstitch, one of Australia's newest online surf and apparel retailer, revealed Howard McDonald will retire as chairman on August 1.

Sam Weiss, who joined the company’s board in June, will take McDonald's post as chairman.


Surfstitch chairman Howard McDonald walks, Sam Weiss named successor - Surfstitch


“The last four months since the surprise departure of the former CEO have been highly challenging for management,” said McDonald. 

“However, the appointment of CEO Mike Sonand in May is already having a very positive impact on the business and our leadership team, which can now focus on rebuilding what is fundamentally a great business.

"Sam Weiss has an extensive track record in technology, online retailing and digital marketing across global markets, as well as in corporate restructurings. The board and management team are firmly aligned in their focus on restoring shareholder value,” McDonald added.

It's now the new manager director's job - Mike Sonand, to guide the business back to profitable growth in fiscal 2017. Cuts in the US operations were announced in June at the time of Sonand's appointment.

“Since my appointment on 9th June the executive team has prepared a stabilisation plan and we are in the process of implementing that plan, which includes the restructure of our North American operation, Swell,” Sonand said.

 

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