The guys in the suits (SurfStitch’s new CEO Mike Sonand and chairman Sam Weiss) are running Australian retailer Surfstitch and they’re cleaning up the board of directors including kicking off executive directors (and company founders) Lex Pedersen and Justin Stone, according to a story in the Sydney Morning Herald.
None of the board members who signed off on last year’s acquisition binge, which has since been written off, survived the blood-letting announced on Tuesday by new chairman Sam Weiss. . . To help make up the numbers, Weiss has had to collar Quiksilver veteran Harry Hodge, who joins the board this week. . . Surfstitch’s new boss Michael Sonand scored the remaining board seat.
Will be interesting to see if these changes make any kind of difference when it comes to the company’s performance.
[Link: Sydney Morning Herald]
