Mr. McKnight to improve Quiksilver operating results
13 Feb '08
3 min read
Mr. McKnight continued, “Our business objectives today are clear. We will focus our attention on our Quiksilver, Roxy and DC businesses, both to continue their healthy growth and to improve their operating results. At the same time, we will seek to further reduce our exposure to the winter sports equipment businesses we acquired in 2005, including pursuing a sale of the businesses and we will work to improve our balance sheet. As we move forward, our entire organization is deeply committed to executing this plan.”
Mr. McKnight further commented, “We have many strengths, including tremendous untapped growth opportunities in our core apparel and footwear brands. Our great brands, our global operating platform and our leadership position in this fragmented market are all among them. The two most important sources of strength, however, are a deeply ingrained and powerful corporate culture and a tremendous management team. I am confident that each of these will serve us, as they always have, as a deciding factor in our success.”
The Company noted that Mr. McKnight will have three corporate officers and three regional Presidents reporting directly to him under the company's new management structure. Charlie Exon, who serves as a director and the Company's General Counsel will also assume the title of Chief Administrative Officer, recognizing his broader role in the areas of global communications and human resources.
David Morgan, Chief Operating Officer, will continue in his role, including overseeing the Company's global sourcing initiative and also serving as President of the Company's Rossignol subsidiary through a transition period. Joe Scirocco, the Company's Chief Financial Officer, will continue to oversee global finance initiatives and also report directly to Mr. McKnight.
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