Quiksilver, Inc. : Quiksilver Inc. Appoints Richard Shields as Chief Financial Officer
04/27/2012| 09:10am US/Eastern
Quiksilver Inc. (NYSE:ZQK) today announced that it has appointed Richard
Shields as the company's Chief Financial Officer, effective May 11,
2012. Mr. Shields will be responsible for all areas of the company's
finance and accounting on a global basis. Mr. Shields comes to
Quiksilver with a strong background in the outdoor sports market for
apparel, footwear and accessories after serving as Chief Financial
Officer for Oakley, Inc., a global leader in performance eyewear,
apparel, footwear, and accessories.
Robert B. McKnight, Jr., Chairman of the Board, Chief Executive Officer
and President of Quiksilver Inc., commented, "We're really pleased to
welcome Rich into the Quiksilver family. His extensive corporate
financial experience and proven track record in international
operations, retail and manufacturing make him an ideal fit for our
growing global business. Rich is an accomplished executive who we expect
will make an immediate contribution to our pursuit of substantially
improved financial performance, especially through our long-term growth
initiatives and globalization efforts."
Prior to beginning his tenure as chief financial officer of Oakley in
2005, Mr. Shields served as chief financial officer of Southwest Water
Company, and served previously as chief financial officer at Day
Software Corporation, Winfire Corporation and Frame-N-Lens Optical, Inc.
Mr. Shields also served as international controller and finance director
for the Americas for AST Research. Earlier he worked in corporate
finance with Taco Bell Corporation after beginning his career at the
public accounting firm Price Waterhouse.
"I'm excited to join Quiksilver, particularly as the company pursues its
plans for increasing revenue and expanding profitability," said Mr.
Shields. "I look forward to playing an integral role in the company's
drive to improve its financial performance and increase shareowner value
as part of the Quiksilver senior management team."
Mr. Shields holds an M.B.A from the University of Notre Dame and a
bachelor's degree in accounting from Eastern Washington University. He
is a licensed certified public accountant in California and is an avid
outdoor sports enthusiast.
Quiksilver Inc. (NYSE:ZQK) is the world's leading outdoor sports
lifestyle company, which designs, produces and distributes a diversified
mix of branded apparel, footwear, accessories, snowboards and related
products. The company's apparel and footwear brands represent a casual
lifestyle for young-minded people that connect with its boardriding
culture and heritage.
The reputation of Quiksilver's brands is based on outdoor action sports.
The company's Quiksilver, Roxy, DC, Lib Tech and Hawk brands are
synonymous with the heritage and culture of surfing, skateboarding and
The company's products are sold in over 90 countries in a wide range of
distribution, including surf shops, skate shops, snow shops, its
proprietary Boardriders Club shops and other company-owned retail
stores, other specialty stores and select department stores.
Quiksilver's corporate and Americas' headquarters are in Huntington
Beach, California, while its European headquarters are in St. Jean de
Luz, France, and its Asia/Pacific headquarters are in Torquay, Australia.
Forward looking statements:
This press release contains forward-looking statements including but
not limited to statements regarding the company's growth initiatives,
profitability and other future activities. These forward-looking
statements are subject to risks and uncertainties, and actual results
may differ materially. Please refer to Quiksilver's SEC filings
for more information on the risk factors that could cause actual results
to differ materially from expectations, specifically the sections titled
"Risk Factors" and "Forward-Looking Statements" in Quiksilver's Annual
Report on Form 10-K and Quarterly Reports on Form 10-Q.
NOTE: For further information about Quiksilver Inc., you are
invited to take a look at our world at www.quiksilver.com,
Vice President, Investor Relations
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