Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

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)

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 



BusinessNZ: Third Snapshot Report Reveals $9.5 Billion Business Investment In Climate Action

Signatories to the Climate Leaders Coalition have committed to invest $9.5 billion over the next five years to reduce emissions from their businesses, as revealed in their third anniversary snapshot report released today... More>>

Digitl: The home printer market is broken
Printers are more of a security blanket that a serious aid to productivity. Yet for many people they are not optional.
Even if you don’t feel the urge to squirt ink onto dead trees in order to express yourself, others will insist on printed documents... More>>


Serious Fraud Office: Commences Enquiries Into Allegations Of COVID-19 Wage Subsidy Fraud
The Serious Fraud Office has commenced a number of enquiries into alleged abuse of the Government’s COVID-19 Wage Subsidy. Director Julie Read said the allegations relate to multiple complex cases of potential fraud that have been referred to the agency following extensive investigations ... More>>

ComCom: Companies In Hot Water For Selling Unsafe Hot Water Bottles And Toys

A wholesaler and a retailer have been fined a total of $140,000 under the Fair Trading Act for selling hot water bottles and toys that did not comply with mandatory safety requirements. Paramount Merchandise Company Limited (Paramount) was fined $104,000 after pleading guilty in the Manukau District Court... More>>



Reserve Bank: Robust Balance Sheets Yield Faster Economic Recovery

Stronger balance sheets for households, businesses, financial institutions and the government going into the pandemic contributed towards maintaining a sound financial system and yielding a faster economic recovery than following previous deep recessions... More>>


Transpower: Releases Independent Report Into Events Of August 9
Transpower’s Chief Executive Alison Andrew has today released an independent report into the grid emergency of August 9 when insufficient generation was available to meet demand, leading to some customers being disconnected... More>>