The turmoil at surfing goods retailer SurfStitch Group has continued, with the resignation of Karen Birner as chief financial officer and company secretary announced yesterday.
The surfing retailer said Birner has tendered her resignation in a statement to the ASX yesterday.
Birner will continue in the dual role while the company searches for a replacement. Birner will leave the company within the next three months.
Online sportswear retailer Surfstich’s full-year net loss has widened by over 200 per cent to $155.3 million, following a year of acquisitions and the departure of co-founder and chief executive Justin Cameron.
The company’s turnaround strategy involves the implementation of a new executive team; a restructure of its North American operations, reducing the workforce by over 65 per cent; reducing the UK workforce by 25 per cent; and accelerating a brand rationalisation program.
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