Kathmandu Holdings (NZX:KMD) CEO Xavier Simonet Resigns to Join Austrade as CEO

Summary

  • The CEO of Kathmandu Holdings Xavier Simonet has resigned from his position after serving the organisation for five years.
  • He is serving the notice period of six months and would join Austrade as CEO.

On 30 November 2020, Kathmandu Holdings Limited (NZX:KMD) announced the resignation of its Group CEO Xavier Simonet. He served the Company for five years, and then decided to look for another opportunity with the Australian Public Service in a senior role.

Founded in 1987 in New Zealand, Kathmandu Holdings Limited focuses on quality clothing and equipment for travel and adventure. In these five years, Xavier Simonet led Kathmandu Holdings throughout the phase of growth and repositioning of the Company.

Now, Xavier would remain with the Company for the next six months. Also, Kathmandu Holdings would undertake a thorough search for his successor.

David Kirk, the Chairman of Kathmandu Holdings, is disappointed with the exit of Xavier Simonet. At the same time, he understands his desire to join a senior position in the Australian Public Service.

What is the new Role of Xavier Simonet in Austrade?

The Morrison Government appointed Xavier Simonet as the new CEO of Austrade. As per Simon Birmingham, who is the Minister for Trade, Tourism and Investment, the appointment of Xavier Simonet came at the time when Austrade had a vital role to play in supporting Australian businesses to uphold global supply chains, export to more markets, aid tourism and education sectors to improve and simultaneously attract game-changing investment.

Mr Simonet would bring proven and strong leadership to Austrade. Austrade believes that with this Simonet’s appointment would play an important role in the supporting businesses to sail through and rebound from the significant period of economic and trade uncertainty.

Interesting Facts About Xavier Simonet:

  • Mr Simonet was born and raised in France. However, his family decided to make Australia their home.
  • He has worked for several iconic Aussie brands which include Seafolly and Rip Curl.
  • Mr Simonet has massive business understanding as well as broad experience in international business development. Earlier he has worked across Europe, the US, and the Asia Pacific.
  • He has a renowned career in brand sales and marketing, international market development and acquisition. Minister Birmingham believes that his extensive knowledge and wide international understanding will serve Australian businesses well.

Mr Xavier Simonet would replace Mr Tim Beresford, who is the Acting CEO of Austrade. Mr Tim Beresford would continue as Deputy CEO.

INTERSTING READ: Kathmandu Holdings sales up by ~72% during the First Quarter Report

Stock Information:

On 30 November, Kathmandu Holdings shares, at the time of writing this report were trading at NZ$1.23, down 5.38%.

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