Pacific Brands' chief quits

Pacific Brands has announced chief executive John Pollaers is leaving the company due to disagreements with the board.  This comes just a month after management reduced its earnings before interest and tax (EBIT) guidance for the full-year by 15% to $90-93m due to weather and a general retail downturn. Pacific Brands’ chairman, Peter Bush, said ‘John's decision to leave now has been driven by a divergence between his views and those of the board regarding the best path forward for the company and its businesses’. Pacific Brands faces increasing margin pressure from large retailers promoting cheap home brand products...

Pacific Brands has announced chief executive John Pollaers is leaving the company due to disagreements with the board.  This comes just a month after management reduced its earnings before interest and tax (EBIT) guidance for the full-year by 15% to $90-93m due to weather and a general retail downturn.

Pacific Brands’ chairman, Peter Bush, said ‘John's decision to leave now has been driven by a divergence between his views and those of the board regarding the best path forward for the company and its businesses’.

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