The CEO and managing director of surf wear brand SurfStitch, Justin Cameron, has unexpectedly quit the company.
In a statement to the Australian Securities Exchange (ASX) Thursday afternoon, the company said he had resigned from all positions with immediate effect.
The company is currently assessing its options. The statement said Cameron had tendered his resignation during the initial two year period and before his contract permits.
The current chairman Howard McDonald will monitor the day-to-day operations of the company in the interim.
The statement said the company believes Cameron is planning some sort of acquisition of the company with a private equity company. However, SurfStitch said it had not had any discussions with private equity companies to date.
The brand and its board has also not received any information about an acquisition.