27 Jan 2015

Pacific Brands loses another senior exec

3:23 pm on 27 January 2015

The troubled Pacific Brands Group has lost another senior executive.

The head of its underwear division, which included the Jockey and Bonds brands, Anthony Heraghty, resigned.

Mr Heraghty would leave at the end of the week after five years with the company.

His position would be filled by Pacific Brands' chief executive David Bortolussi until a replacement was found.

The company, which posted a $A224.5 million loss last year, had been suffering a revolving door in its management ranks.

Mr Bortolussi was the third chief executive in two years when he took up the role in August last year.

Pacific Brands' underwear division was its largest, accounting for 38 percent of sales in its last full year.

The company had since sold its footwear, apparel and sports brands, which had accounted for 16 percent of annual sales, and its workwear division, which had accounted for 29 percent.

Its remaining divisions were now the bedding division, which included the Sheridan and Fairydown brands, and the Tontine and Dunlop flooring division.

In October last year, Mr Bortolussi warned first-half operating profit, due to be reported in February, would be down materially from last year.