KMD Brands, owner of Rip Curl, Kathmandu, and Oboz, is set to welcome Brent Scrimshaw as its new CEO on March 24. Scrimshaw, a veteran of Nike with nearly two decades of experience and former CEO of Enero, succeeds Michael Daly, who will remain for a transition period. Daly’s departure follows over 20 years with Rip Curl and subsequent leadership of the combined KMD group.
The leadership change comes as KMD navigates a challenging financial landscape. The company reported in January that it had stemmed a decline in trading during the critical Black Friday and Christmas sales period. However, KMD still anticipates a significant drop in first-half earnings, attributing the expected downturn to clearance items and persistent cost pressures. The company is scheduled to release its first-half results on March 26, where further details on the financial performance will be disclosed. Scrimshaw’s appointment signals a strategic shift as KMD aims to overcome current economic headwinds and capitalize on its portfolio of established brands.
