Directorate Change
09 November 2007
Hot Tuna (International) PLC (AIM: HTT), a lifestyle apparel brand with authentic surf heritage, announces that Elle Macpherson has come off the Board as Executive Director because of increasing time pressure from her other projects. Hot Tuna will commence discussions with Elle Macpherson with regards to a separate role as a consultant to the design team lead by Chief Executive officer Niels Juul, who joined the Company in June 2007.
Hot Tuna’s London based design team has now been relocated to Los Angeles and successfully integrated with the Group’s Californian design team. This strategic move has been implemented with the intention of generating a global team of young designers who will lead Hot Tuna into the exciting next phase of the brand’s development.
In addition, Ranjit Murugason will step down from his Executive Chairman position, reverting to a non executive role as a result of his increasing time commitment to another fledging business venture.
Commenting on the board changes, Niels Juul, Chief Executive Officer of Hot Tuna, said: "I am enthusiastic about the possibility of working with Elle on up coming ranges, and thank her for her input and commitment to the brand up until now."
For further information:
| Hot Tuna (International) PLC | |
| Niels Juul, Chief Executive | |
| Ranjit Murugason, Executive Chairman | Tel: +44 (0) 20 7372 9378 |
| ranjit_murugason@hottunaplc.com | |
| Seymour Pierce Limited | |
| Mark Percy / Parimal Kumar | Tel: +44 (0) 20 7107 8000 |
| parimalkumar@seymourpierce.com | www.seymourpierce.com |
Media Enquiries:
| Abchurch | |
| Henry Harrison-Topham / Chris Lane | Tel: +44 (0) 20 7398 7700 |
| chris.lane@abchurch-group.com | www.abchurch-group.com |
Notes to Editors
Hot Tuna International PLC (AIM:HTT) owns the rights to the Hot Tuna brand, a progenitor of global youth fashion, born in Australia with a heritage of authentic surf culture.
Hot Tuna is one of the world’s most iconic names in surf lifestyle and can trace its roots back to 1969 when it was founded by a surfer and his fashion designer wife. Though the label had not been actively marketed over for the last decade, it retained an organic cult status among core action sports enthusiasts.
In June 2005, Hot Tuna International PLC purchased the ‘Hot Tuna’ brand from Frontier International (Holdings) Pty Ltd, listed on AIM in September 2005, and has since started to aggressively market the brand and reinvigorate the business. The Company now owns all intellectual property rights to its name and related iconography, and has put in place key management drawn from the executive ranks of Von Dutch, Quiksilver, O’Neill and Ocean Pacific, among others.
Headquartered in the UK, Hot Tuna operates design, marketing and distribution hubs in the USA, Australia and the UK. In its core markets, Hot Tuna sells products, which are directly manufactured in facilities principally in China.
Hot Tuna offices are maintained in Sydney, Los Angeles and London. For more information, visit www.hottunaplc.com