Rip Curl CEO Brooke Farris Resigns

Rip Curl CEO Brooke Farris has resigned after three years leading the Australia-based surfwear brand, according to parent company KMD Brands. In a statement KMD announced that its CEO, Michael Daly, a Rip Curl veteran, had also resigned, but will serve as Rip Curl’s interim CEO until a permanent replacement is found.

Farris’ 14-year tenure at Rip Curl saw her occupy all rungs on the ladder from team manager to general manager. On the 16th August 2021, she was ushered in as Rip Curl’s CEO, making her the second woman in history to occupy the corner office of a heritage surf brand.

A former Junior Champ, ASP Women’s world tour manager, and board member of The Beachley Foundation, Surfing Australia and SurfAid, Brooke’s elevation to top of the org chart represented a symbolic shake of the tree for all the right reasons. “It’s hard to avoid the idea that it signifies a hell of a lot,” wrote renowned surf writer, Nick Carroll at the time.

Rip Curl suffered a PR misstep in 2024, centered around transgender surfers and losing marquee talent — most notably with the most followed (2.4 million on IG) and recognisable female surfer in the world, Bethany Hamilton.

Signing Steph Gilmore to an 8-year, $4 million deal earlier this year exemplified a strategic pivot to reinforce the brand’s core, reviving The Search—the longest-running campaign in surfing, originally crafted by Derek Hynd and the founders in the early ’90s.

Rip Curl’s other big swing in 2024 was sponsoring the Eddie Aikau Invitational — the most revered event in surfing, held quasi-annually at Waimea Bay. This will be Rip Curl’s first time partnering on the event, which carries with it unparalleled history and prestige.

According to insiders, “Steph’s return to RC was intriguing given their female leadership. Steph has consistently collaborated with female brand leaders since her departure from RC in 2011.” Farris, who is long-time friends with the 8x World Champion, was credited with bringing that deal to life. “It was understood that she wouldn’t be marketed in any way like she had been in the past.”

Amidst shifts in the surf industry following the Boardriders sale and other sector challenges, numerous former executives from surf brands could be considered for the position of Rip Curl CEO. It will be intriguing to see if the company, along with the soon-to-arrive KMD Brands CEO, chooses to appoint someone with deep industry experience or pursue an external candidate.

Founded by Francois Payot, Brian Singer, and Doug “Claw” Warbrick, Rip Curl operated as a private, independently-run business for five decades. That changed in 2019, when it was acquired by KMD Brands, then known as Kathmandu Holdings, in a deal worth A$350 million (USD $236 million).

Like many companies in the industry, Rip Curl has faced post-pandemic challenges. According to KMD’s financial reports, for the fiscal year ending July 31, Rip Curl’s annual revenue fell 7.3% to A$499.7 million (USD $316.2 million) compared to the previous year. Additionally, Rip Curl’s EBITDA saw a 24.5% drop, down to A$38.9 million (USD $24.6 million).