KMD Brands names Enero Group's Brent Scrimshaw as new CEO

8:07am on 2 October 2024

The news: Apparel retailer KMD Brands has appointed Brent Scrimshaw as its new group chief executive, after current CEO Michael Daly resigned.

The numbers: Daly has served as group CEO since May 2021, and was part of the KMD's Rip Curl business for over 22 years before that.

Newly appointed Scrimshaw has been a director of KMD since 2017 and global CEO of listed marketing services company Enero Group since 2020. Prior to that, Scrimshaw had a 19-year executive career with Nike, and became the global apparel corporation's vice president and CEO of Western Europe in 2009.

The context: KMD said Daly had been discussing his possible future resignation with the board, which initiated a succession planning and evaluation process to identify a suitable replacement.

Scrimshaw has a six month notice period in his current role at Enero and his start date at KMD will depend on when he is able to be released. Daly will continue to act as CEO in the interim.

KMD, formerly Kathmandu Holdings, is an ASX- and NZX-listed outdoor, lifestyle and sports retailer, based in Christchurch, consisting of the brands Kathmandu, Rip Curl and Oboz. Last week the group swung to a full-year loss as sales fell sharply amid weak consumer sentiment and softer trading.

What they said: "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," said KMD Brands chairman David Kirk.

"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," he said.

On Daly's resignation, Kirk said: "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."

The source: ASX announcement