Billabong loses another exec

Billabong International (BBG) has lost another senior executive as the head of its European business has left for US brand Columbia Sportswear, The Australian reports.

According to the newspaper, Columbia said it had appointed general manager of Billabong Europe Franco Fogliato as senior vice president of its own European division, starting November 4.

The news follows the departure of Launa Inman, who left as chief executive officer in July when the group inked a debt deal with United States private equity firm Altamont Capital Partners.

Mr Fogliato will be replaced on an interim basis by Jean-Louis Rodrigues, retail director for the European business, a Billabong spokesman told The Australian.

Billabong last week entered a binding agreement with the Centerbridge-Oaktree consortium to recapitalise the company.