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Kathmandu boss Halkett to leave in November

Kathmandu boss Halkett to leave in November

By Paul McBeth

Aug. 25 (BusinessDesk) - Kathmandu Holdings chief executive Peter Halkett will leave the outdoor equipment chain in late November, having led the company for eight years.

Halkett will depart on Nov. 25 after giving his notice of resignation, and will take up to a year off when he leaves the retailer, Kathmandu said in a statement. The board and executive are working on a transition plan, and Kathmandu's directors will look at options to find a replacement in the coming weeks. Chief operating office Mark Todd will act as chief executive in the interim.

"Kathmandu has continued to flourish as a public company under Peter’s leadership and in particular has grown rapidly and profitably in Australia," chairman David Kirk said. "He has built a strong team of executives around him and leaves the company well positioned for continuing growth."

Halkett took a leave of absence last year to recuperate from a severe infection after a routine medical procedure. Todd was acting CEO in his absence.

Shares of Kathmandu were unchanged at $3.37 today, and have slipped 4 percent this year. The shares were sold at $2.13 apiece in an initial public offer in 2009 in the first major float after the global financial crisis sapped investor appetite for public markets.

Earlier this month, the Christchurch-based company said earnings before interest and tax was $62.5 million to $65.5 million in the year ended July 31, from $63.4 million the year earlier, as a cold snap in July helped generate more sales than anticipated.

(BusinessDesk)

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