July 10 (Bloomberg) -- Hot Tuna (International) Plc, the owner of a surf-wear brand started in Australia in 1969, appointed model Elle Macpherson as an executive director to advise on new products and strategy.

Macpherson, whose appointment takes effect immediately, will have an initial two-year contract, the London-based company said today in a Regulatory News Service statement. While the job is not a full-time position, she will attend meetings of senior managers and the board and strategy discussions.

Hot Tuna is focusing on the U.S., U.K. and Australian markets, hiring managers from rivals including Quiksilver Inc. and sponsoring surfing competitions as it works to raise the brand's profile. The company expects Macpherson's appointment to help make Hot Tuna better-known, Chairman Ranjit Murugarson said in the statement.

Stock in Hot Tuna closed unchanged at 40 pence in London, erasing a climb of as much as 18 percent. The shares cost 50 pence each when they were first sold to investors in September. The company has a market value of 18 million pounds ($33 million).

To contact the reporter on this story: Dan Weeks in London at dweeks1@bloomberg.net.

Last Updated: July 10, 2006 11:36 EDT