Linder sells Canterbury shares

Following a year of negotiations, former Canterbury International SA (CISA) CEO Dave Linder (left) has sold his Fifth Element shares to Brimstone Investments, to give them 100% control of the business unit that includes Canterbury and O’Neill. The amicable deal includes Linder staying on as a consultant for the next 6–8 months, while Iqbal Khan, CEO of Brimstone’s clothing subsidiary House of Monatic, eases into the CEO chair at CISA.

The position of GM, formerly occupied by Robbie Chapman, will not be filled.

Linder will work with Brimstone and CISA on certain projects. He retained control of the supply side of the Fifth Element group and will be building on that aspect of the business, whilst also looking at a number of other related brand business opportunities.

“We worked hard to build the right foundation at Canterbury and I am sure it will continue to be successful and build momentum,” he says. “There will be massive commercial opportunities for Canterbury with the Lions tour next year.”

HOM (House of Monatic), a fully owned subsidiary of Brimstone, acquired 51% of CISA in March 2007.

The group also included Fifth Element Marketing (a clothing design commodity business) and O’Neill SA, which has the rights to market the surfing brand in SA and Africa.

Iqbal Khan joined Brimstone in October 2007, after spending 14 years in an accounting practice, first as a partner with Brimstone founder and CEO Mustaq Brey at KMMT Brey.

He was also a senior executive partner at Ernst & Young in Cape Town and a member of the IRBA Investigations & Disciplinary Committee.