Kathmandu Holdings announced the retirement of its Group CEO Xavier Simonet yesterday morning.
After five and a half years leading the outdoor-focused business, Simonet departs the company to pursue a new role as the CEO of Austrade, the Australian Trade and Investment Commission.
"I have had an awesome time at Kathmandu Holdings, where I have spent the last five immensely exciting years," Simonet said.
"The Group has great brands, passionate teams and strong values.
"I am very grateful to our teams, to the Board of Directors, to our shareholders and to my Chairman, David Kirk, for their support," he said.
Simonet will remain with the company through his six-month notice period or until the Board decides to release him.
Speaking on Simonet's departure, Kathmandu Holdings chairman, David Kirk said that the business wishes him well in his new role.
"We are disappointed to lose Xavier, but understand his desire to take up a senior role in the Australian Public Service, for which he is very well credentialled.
"We wish him well in the important work he will undertake.
"Xavier has led Kathmandu Holdings through a period of growth and re-positioning of the company.
"Kathmandu, Rip Curl and Oboz are three iconic brands which together create a world class outdoor adventure company, diversified by geography, channel to market and seasonality.
"Xavier will remain with us for up to six months while we undertake a comprehensive search for his successor," he said.
Minister for Trade, Tourism and Investment Simon Birmingham said Simonet’s appointment comes at a time when Austrade has a critical role to play in helping Australian businesses to maintain global supply chains and export to more markets.
"As our key agency for promoting Australian trade, investment and education to the world, and developing tourism policy, Austrade’s role in providing advice and support to Australian businesses has never been more important, as they continue to face enormous challenges.
"Simonet will bring proven and strong leadership to Austrade, as it plays its part in helping Australian businesses to navigate through and bounce back from this significant period of economic and trade uncertainty.
"[He] will bring extensive business acumen and broad experience in international business development having previously worked across Europe, the US and the Asia Pacific.
"Bringing a distinguished career in brand sales and marketing, international market development and acquisitions, I am sure that Simonet’s extensive knowledge and wide international experience will serve Australian businesses well," he said.
Simonet replaces acting Austrade CEO, Tim Beresford, who will resume the role of deputy CEO once Simonet begins at Austrade.
Simonet's resignation follows the announcement of Kathmandu Holdings' Q1 F21 sales results, where it reported group total sales were 72% above last year.