The outdoor and surf group behind Kathmandu, Rip Curl and Oboz is refreshing its board structure at a pivotal moment in its recovery – with a new Chair, an active search for two directors, and a Q3 trading update due by end of May.
KMD Brands Limited has appointed Philip Bowman as its new Non-Executive Chair from May 1, 2026, as the New Zealand-based outdoor and surf group moves to refresh its board amid its Next Level turnaround.
Bowman replaces David Kirk, who said on March 31, 2026 that he would step down after 12 years leading the board. Kirk’s tenure covered the Covid-19 period and a prolonged economic downturn in New Zealand, which weighed on KMD’s portfolio of outdoor, surf and hiking brands.
A governance refresh tied to the turnaround
KMD said the governance changes are intended to support execution of its Next Level plan, which it says is starting to deliver results. The company expects to provide a Q3 trading and KPI update by the final week of May 2026.
Bowman brings board experience across multiple sectors. He currently chairs NZX-listed Sky Network Television and Tegel Group Holdings, and serves as an independent director of Amsterdam-listed Ferrovial SE.
The company has also begun an externally supported search for two new Non-Executive Directors, aiming to bolster governance, support performance improvement, and strengthen longer-term succession for the chair role.
Kirk will remain on the board during the transition to maintain compliance with NZX Listing Rules, which require at least two directors ordinarily resident in New Zealand. His exit is conditional on appointing a New Zealand-based replacement.
Separately, Zion Armstrong will resign as a Non-Executive Director from May 1, 2026, to focus on their role as chief executive of Jamie Kay Group.
A multi-brand portfolio under pressure and its Next Level Plan
KMD owns three brands in outdoor and action sports: Kathmandu, the New Zealand-founded outdoor clothing and equipment retailer; Rip Curl, the Australian surf brand acquired in 2019; and Oboz, a US-based hiking footwear label. The group is dual-listed on the NZX and ASX (NZX/ASX: KMD).
KMD has been under pressure on revenue and earnings since demand eased after the pandemic-era surge in the broader outdoor and lifestyle sports market. The Next Level plan is its response, though the board’s focus on “consistency of execution” indicates the turnaround is still a work in progress.
