Industry News 8/21/2006

Elle Macpherson Appointed As An Executive Director Of Hot Tuna

Elle Macpherson Appointed As An Executive Director Of Hot Tuna

Hot Tuna, a lifestyle apparel brand with offices in coastal Orange County, Calif., today announced the appointment of Elle Macpherson as an executive director of the Company. Effective immediately, she joins the Board of Directors of Hot Tuna (International) PLC.  Hot Tuna (International) PLC is listed on the London Stock Exchange.

In her capacity as executive director, Elle Macpherson will advise and assist with product development, brand positioning and sales strategy, and work alongside Hot Tuna’s existing management in dealings with customers, suppliers and stakeholders.

“Elle Macpherson grew-up with our brand in Australia,” noted Tim Bernardy, COO of Hot Tuna’s USA operations. “As we set to launch our swimwear and apparel programs this month and next, her insight into the heritage of Hot Tuna, and acumen in both the design values and business of fashion, are going to be incredibly valuable.”

Elle Macpherson will additionally attend Board of Directors meetings as well as senior management and general strategic sessions.  Although not working in a full-time capacity with Hot Tuna, her interests will include introducing and developing new retail relationships and heightening the Company’s position within the lifestyle apparel industry.

Commenting on the appointment, Ranjit Murugason, Chairman of Hot Tuna, said: “I am delighted to announce this significant appointment in the Company’s evolution. The addition of Elle Macpherson brings to Hot Tuna a dynamic dimension and appreciation of developments in surf and youth fashion and will boost awareness of the brand and significantly strengthen the Company’s consumer and business relationships.”

Commenting on her appointment, Elle Macpherson said: “I believe this to be a maverick and dynamic union.  Hot Tuna is a brand with a great Australian heritage, irreverent and edgy. It has a right to claim its place in the modern surf lifestyle market.  I am delighted to have the opportunity to work with the team at Hot Tuna and be part of the innovations and energy that they have put into the re-launch of what I know will be a major success as a youth fashion surf brand.”

In association with her appointment, Elle Macpherson has been granted a number of incentive arrangements, including shares and share options in Hot Tuna.