The former head of Target is headed to surf retailer Billabong, and already there are fears for jobs.

LAUNA INMAN will take over as CEO and Managing Director of the surf wear company from Monday, replacing DEREK O'NEILL.

INMAN was appointed as a consultant to BILLABONG in February and has already toured Aussie stores, working out which ones need to go.

She left Target's North Geelong base at the end of last year after 6-years as managing director.

Picture: New Billabong chief Launa Inman