Matthew Wilson, a director for Australian surfing brand Billabong, has decided to leave the company after fears of a possible conflict of interest due to his position at Billabong shareholder, Oaktree Capital Management.
Other director leaves as well
At Oaktree, Wilson is in charge of the company's retail investments, including other clothing brands. Out of fear of a conflict of interest for those investments, he has handed his immediate resignation at Billabong. Thomas Casarella, Wilson's replacement and also employed at Oaktree, has done similarly.
"On behalf of my fellow directors I would like to acknowledge and thank Matthew Wilson for his contribution," said Billabong chairman Dr Ian Pollard. "Mr Wilson steps down with Billabong having just reported its first full year profit in five years."