Even if VF Corp. and Altamont’s letter of intent is not a “binding offer” they still seem pretty serious about their bid for Billabong. Altamont Capital Partners has already named Skullcandy board member and former Nike and Oakley exec D. Scott Olivet as the guy who would run the non-Billabong brands including Element, RVCA, and Tigerlilly should the deal go through, according to a story in The Australian.
Mr Olivet is a clothing industry veteran and former vice president at Nike. He is currently a director of headphones company Skullcandy, and was chief executive of Oakley between 2005 and 2009 before moving into the chairman’s role through November 2011.
The former Oakley CEO ready to swoop down not he non-Billabong brands? That’s got to have some people at Billabong’s other brands starting to look a little more seriously over their shoulder for a soft place to land.
[Link: The Australian]