Quiksilver Shares Fall on CEO Ouster

Shares of Quiksilver Inc. fell more than 15 percent, below the $2 mark, after the company ended Andy Mooney’s tumultuous two-year-plus tenure as chief executive officer and promoted Pierre Agnes, the company’s president, to the post. Bob McKnight, who founded the company in 1970 and took it public in 1986, has returned to Quiksilver as chairman after retiring less than five months ago. He had remained a director of the company since retiring, at which time Mooney succeeded him as chairman. Agnes will fill Mooney’s spot on the board. Succeeding Agnes as president is Greg Healy, who was most recently president of the Asia-Pacific region for the Huntington Beach, Calif.-based surf, skate, sportswear and footwear firm. RELATED CONTENT: WWD Earnings Tracker >> Additionally, Thomas Chambolle, currently chief financial officer of the Europe-Middle East-Africa region, has been promoted to cfo of the company. His predecessor, Richard Shields, will stay on in a consulting role. McKnight Friday credited Mooney with “driving the organizational changes that were essential to restoring our product design leadership and globalizing many of our key functions.” Even with Quiksilver’s “revenue cut-off issue” earlier this month, which led to a minor restatement of its 2014 financial results, sources characterized Mooney’s dismissal as a shift toward

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