SURF REPORT
Quiksilver’s McKnight Steps Down
Bob McKnight, founder of surf giant Quiksilver Inc., will retire from his position as executive chairman of the Huntington Beach, Calif.–based company, it was announced on Oct. 14.
McKnight will continue to serve on Quiksilver’s board as a director. Andy Mooney, the current chief executive officer for the surfwear company, was elected chairman of the board. Pierre Agnes, the company’s global head of apparel, also got a new title. He was named president of the company, Mooney said.
“Pierre thoroughly deserves his augmented responsibilities, and I look forward to continuing our close partnership,” Mooney said in a statement. He also paid tribute to McKnight. “It has been a privilege to work side-by-side with Bob. The opportunity to learn from him has been invaluable, and I am grateful that the company will continue to benefit from his involvement as a board member.”
McKnight co-founded Quiksilver in 1976 and took it from being a boardshorts vendor to a publicly traded vertical retailer. Its brands—Roxy, Quiksilver and DC Shoes—are sold in 90 countries.
On Sept. 4, Quiksilver reported its third quarter for its fiscal 2014 year. Net revenues were $396 million, down 19 percent from $488 million the same time in the previous year. However, same-store sales for its fleet of 658 company-owned retail stores improved 1 percent.
