Billabong  has appointed former APN News & Media and Ten Network chief financial officer Peter Myers to replace its last CFO, Craig White, who quit the company last month.

According to the release, Myers has extensive experience working on "a number of successful and complex transactions including initial public offerings, takeovers, refinancing and acquisitions.”

“Peter has over 30 years of experience and insight at both a corporate and an operational level," stated Billabong CEO Launa Inman in a press release. "He understands the company's current position, has a deep understanding of working with a wider team in implementing transformational strategies and will make a valuable contribution."

Billabong is currently in talks with Paul Naude and a group of backers about a potential buyout.