There has been some agitation in Billabong International's stock quotation in the past few days, which rose to a high of 65 Australian pennies earlier today. It was probably linked to an investment by Coastal Capital International, which now has 5 percent of the voting shares. Meanwhile, Paul Naude, the former Billabong manager for the Americas who had made an unsuccessful bid for the company together with another investment fund, has resigned as a director. Peter Myers is serving as acting chief executive following the planned resignation of Laura Inman. The company said that it is still finalizing the appointment of Scott Olivet, the former senior executive of Nike and Oakley, as managing director and CEO.

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