The incoming CEO of retailer Billabong is waiting for a challenge of the company’s recent refinancing deal to be resolved before he officially takes the top job.

Billabong’s former CEO Launa Inman left the company at the end of last week, in line with arrangements agreed to under a financial deal with private equity firm Altamont.

But the appointment of her successor Scott Olivet, the former boss of Oakley, has not been finalised as the company waits on the outcome of a Takeovers Panel deliberation.

Two US hedge funds seeking to strike their own deal with Billabong want the panel to delay the Altamont agreement, claiming parts of the deal are anti-competitive and coercive.

Billabong expects deliberations by the Takeovers Panel will take a week or more.

Peter Myers, CFO, will serve as acting CEO in the interim.

AAP