Launa Inman has become the new managing director and chief executive of Billabong International, replacing Derek O'Neill, who left the company after nine years at the helm of the Australian company. O'Neill, a passionate surfer, has been with Billabong for 20 years. He opened its European subsidiary at the age of 26. Billabong's board said that new management skills were required to head the company. Inman has experience in many areas including retailing, which has become increasingly important for Billabong. A former managing director of Target Australia and Officeworks, and a board member of the Commonwealth Bank of Australia, Inman spent the last two months working as a retail consultant for Billabong. Billabong has also given responsibility for the whole Americas region to Paul Naudé, who has been running its operations in North America. Earlier this year the group saw its shares plummet on the back of disappointing results, but it rejected two takeover bids.

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