Quiksilver Continues Executive Shuffle
On the heels of hiring new chief operating and financial officers, Huntington Beach, Calif.–based surf giant Quiksilver has announced the appointment of two new executives. Steve Tully, formerly the company’s president of women’s apparel, has been promoted to the post of president of the Quiksilver brand for the Americas. Carol Christopherson, formerly the president of retail, has been appointed president of the Roxy and Raisins divisions. Both Tully and Christopherson will continue to report to Marty Samuels, president of Quiksilver Americas.
Quiksilver has more executive hires in the works, announcing the launch of a search for a new president of retail. The shakeup of the ranks comes one month after the company reported a dismal first quarter. Quiksilver’s net income for the first quarter rang up at $2.5 million— down 87 percent from $8.6 million in the same quarter last year. Rossignol, the French ski brand acquired by the surf giant in 2005, took the brunt of the fall, with Quiksilver and Roxy seeing a revenue jump of 17 percent. As a result, Quiksilver has re-evaluated its fiscal forecast for 2007. The company said it expects to earn 53 cents per share—down from a previous estimate of 75 cents to 78 cents per share.—Erin Barajas
