Paul Naude has been running the Americas division of Billabong...

Paul Naude has been running the Americas division of Billabong since 1998. It has made profits, bought lots of expensive brands, expanded through the USA and Canada. it has also sufferred from the wotldwide downturn in retail, wholesale and Etrade. The overall pertformance of the Americas under his guidance and advice raises many questions of competancy. $114 million was just written off the Brand value of BB Americas. a further $40 million was lopped off some US/Canadian brands picked up in the buying splurge.
Now Naude IMO is trying to take over BBG for nothing. If the Americas has deterirated to such an extent under HIS Presidency and Guardianship pray tell how does he anticipate turning the Americas and the rest of BBG
around and WHY didnt he implement this plan BEFORE BBG ended up in the position it finds itself in today. I presume the Directors at Billabong Place would not have had the remotest ideas of which American and Canadian surf business needed to be bought anz what they might be worth. So did the President of the Americas push for these acquisitions in error or has the Americas been allowed to go backwards burdened by overall group indebtedness so that the saviour can rescue it for nothing at the expense of long suffering shareholders.
My own personal opinion is Naude is not the right person to rescue the Americas and certainly not BBG either. Ask the question. He has had 15 years to nurture and grow the Amerricas it is now worth ZERO in the books ...Do the math.