KMD Brands group CEO Michael Daly has given notice of his resignation after three years in the role, handing over the helm to global retail leader Brent Scrimshaw.
Scrimshaw is currently a non-executive director on the KMD board, a role he has held since 2017, and will continue to hold this role once he commences as group CEO. However, as of today, he will no longer be considered an independent director.
Scrimshaw is also currently the CEO and executive director of communications firm Enero Group.
The global retail leader has a six month notice period in his current role and his start date at KMD Brands will depend on when he is able to be released.
According to the KMD board, Daly had been discussing his possible future resignation with them, which sparked a thorough succession planning and evaluation process to identify a suitable candidate for the role should he decide to resign.
Daly will continue to act as CEO until Scrimshaw’s commencement.
Daly has held the leading role since May 2021, and has been a key part of the Rip Curl business for over 22 years prior to this.
As for Scrimshaw, he has managed a 19-year executive career across three continents with global sports footwear and apparel business Nike Inc. In 2006, he was appointed vice president of EMEA brand marketing and core category business, and in 2009 became VP and CEO of Western Europe.
Scrimshaw returned to Australia in 2013 and has held a number of non-executive director roles, including positions at Catapult International and Fox Racing, in addition to KMD Brands.
“The Board is delighted that Brent has agreed to be the next CEO of KMD Brands.,” KMD chairman David Kirk said. “Brent’s global experience of the sports footwear and apparel industry will be of enormous benefit to the Group.
“As a director, Brent has consistently demonstrated a clear and perceptive understanding of the technical branded products markets worldwide. His experience and skills are rare in this part of the world.
“Brent will take up this executive role with a clear understanding of the group and its structure, as well as the challenges and opportunities facing the business. Brent's extensive experience in marketplace management and brand development within the sporting goods industry will be instrumental as KMD Brands seeks to enhance its global presence and product offerings.
“His deep understanding of consumer insight, trends and omnichannel dynamics will provide an advantage as the Group continues to innovate and engage with its customers.”
Kirk then thanked Daly for his excellent service to KMD Brands during his tenure, and his long-running connection with Rip Curl.
“Michael led the integration of Rip Curl into the Group and managed the business very well through the difficult Covid lockdowns and, more recently, weaker consumer discretionary spending. We wish Michael all the best for the future.”