Billabong has picked former Target managing director Launa Inman to help lead the company out of trouble.

She will replace Derek O’Neill as managing director and chief executive officer, which will take effect on 14 May 2012.

Company chairman Ted Kunkel said Inman’s skills and depth of experience in retail, supply chain management, finance, strategic planning and brand marketing will be crucial to Billabong’s future growth.

Inman has spent the last two months consulting with Billabong, following her retirement from Target.

The board also announced Paul Naude, currently head of North America, will be appointed to the expanded role of President of the Americas and will assume additional responsibility for South American market as well as the U.S. and Canada.