Billabong International Limited
(ASX:BBG) has lost the head of its European business to US action sports brand Columbia Sportswear, according to media reports.
General manager of Billabong Europe Franco Fogliato has been poached by Columbia to be the group's senior vice-president of its European business.
Mr Fogliato will commence his new role on November 4, with a Billabong spokesman saying he will be replaced temporarily by European retail director Jean-Louis Rodrigues, while a review of the leadership structure takes place.
The company says Europe’s economic problems have impacted significantly on its business in the last year in particular.
Billabong booked a net loss of $863 million for fiscal 2013.
