The French parent of Puma, Cobra, Tretorn, Volcom and Electric brands describes the €9.6 billion ($12.5 bb) figure as more of an “ambition” than a goal as it outlined its overall growth strategies for European financial analysts.

Following a report that private equity firm TPG Capital has made a A$766 million ($823 mm) cash offer for the financially strapped, surf lifestyle company, Billabong asked the Australian Securities Exchange to halt trading on its shares for two days until Feb. 20.

Gove, who joined the national golf and tennis specialty retailer in Sep. 2008 as Chief Operating Officer, will continue in that role and as CFO for the Austin, TX, company.

The Q4 net loss increased by 22% to $25,185,000 from a loss of $20,635,000 despite 18% growth in the top line to $50,163,000 from $42,574,000 for the period ended Dec. 31.

Theracycle, headed by CEO Peter Blumenthal, is granted a $200,000 Small Business Innovation Research grant to modify its exercise bicycle to replicate a therapeutic effect caused by tandem bicycle riding uncovered by a Cleveland Clinic study.