We use first party and third-party Cookies to help us understand Website usage and to improve the content and offerings and to provide you advertising, analytics and other purposes related to your navigation habits. If you continue scrolling, we consider you accept the policy. You can read more about our cookie policy.


The global fashion business journal

Dec 7, 20195:23pm

Columbia’s CEO appointed interim chairman

Tim Boyle, heir of the sportswear brand, will temporarily take the lead while the board of directors finds a substitute, which will be announce in January 2020.

Nov 5, 2019 — 4:38pm
mds
Save

Columbia’s CEO appointed interim chairman

 

 

Tim Boyle will take over as chairman of Columbia. The chief executive officer of the sportswear equipment brand takes the relieve of his mother, Gert Boyle, who died yesterday. This appointment, however, will be temporary, while the board studies who will take over these functions. The company expects the announcement to be made in January 2020.  

 

The future of the shares held by Gert Boyle, a total of 9.4 million shares, equivalent to 14% of the capital, remains to be resolved. Sarah Bany, one of her daughters and a member of the board of directors will be, in charge of managing the sale. According to the company “we understand that Mrs. Boyle’s estate plans require the disposal of the assets mainly to charitable foundations founded by family members, as well as to the members themselves.”

 

Boyle became the first woman to lead a footwear and outdoor fashion company. Together with her son, she boosted the Columbia bands up to 3 billion dollars and managed to revalue the share price more than 1,100% since its IPO in 1998. 

 

Today, the Columbia group owns brands like PrAna, Mountain Hardwear and Sorel. The group ended the first nine months of the year with revenues up to 2 billion dollars, up 10.7% year-on-year. The United States continues to be the first market of the company.

Advertising
Comment
Participation rules

info@themds.com

 

Validation policy for comments: 

 
MDS does not perform prior verification for the publication of comments. However, to prevent anonymous comments from affecting the rights of third parties without the ability to reply, all comments require a valid email address, which won’t be visible or shared.
 
Enter your name and email address to be able to comment on this news: once you click on the link you will find within your verification email, your comment will be published.

0 comments — Be the first to comment
...