Activist Shareholder Takes Aim at Billabong's Board
A storm is brewing over Australian surfwear retailer Billabong International Ltd.'sBBG.AU +1.03% boardroom. U.S.-based Coastal Capital International is pressing for a meeting of Billabong shareholders to decide of the ouster on most of the debt-laden company’s directors. Only founder Gordon Merchant and his former personal assistant, Colette Paul, would be exempt from the vote if the meeting takes place...