Quiksilver: Turmoil for board of directors
The news brings to light the current tensions at Quiksilver Inc. Four months ago, CEO Andy Mooney and CFO Richard Shields were let go. Original co-founder Bob McKnight was reinstated as chairman of the board, while Peter Agnes was named CEO.
The turmoil has not yet ended. That’s because the boardsport company has just received the resignation of one of its members. Elizabeth Dolan, chief marketing officer of Fox International Channels who joined the board in 2014, announced her decision last week. And while these changes generally go very smoothly, Dolan explained her decision sharply in a letter.
"I joined this board with a strong commitment to carrying out the full responsibilities of a director. By excluding me from crucial board discussions and votes, I have been prevented from fulfilling this role. Indeed, your lack of trust in me has been made clear. On my end, this can’t be rebuilt."
For now, the company has not indicated whether a new non-operation director is to fill the vacant seat. The company’s board is now composed of Robert McKnight, Pierre Agnès, William Barnum Jr., Berndt Beetz, Joseph Berardino, Michael Clarke, Steven Langman and Andrew Sweet.
Quiksilver Inc will present its second quarter results on June 9.
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