Billabong International Limited, and parent company of Element, signed an exclusive 10-year licensing agreement with Plan B. Under the agreement, professional skateboarders and team riders Danny Way and Colin McKay will continue to ride for and own Plan B Skateboards. Vice President Tom Jones will continue to oversee the brand and team which includes Paul Rodriguez, Ryan Sheckler, PJ Ladd and Pat Duffy.
The primary purpose of the agreement appears to be global distribution. The arrangement also includes an option for Billabong to acquire the Plan B business over the next 10 years, but with the ongoing involvement of Danny Way and Colin McKay if this occurs.