Quiksilver, Inc., the parent of Quiksilver, Roxy and DC, announced that the company is taking the next step in its transfer of leadership, which began with the appointment of Andy Mooney as chief executive officer in January 2013. Following a successful handover, Bob McKnight will retire as a senior executive of the company on Oct. 31, 2014, and he will remain a director. The company also said Andy Mooney has been elected chairman and Pierre Agnes has been promoted to president of Quiksilver, Inc., effective Nov. 1, 2014.

I believe now is the ideal time to transition into a non-executive role at Quiksilver. I have absolute confidence in Andy and his entire team, and I look forward to continuing to help guide the company as a member of the board of directors, said McKnight. As a significant shareholder, I am fully supportive of Andys elevation to chairman and delighted with Pierres appointment as president. They are the perfect combination to lead this company into the future.

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, said Mooney. Pierre thoroughly deserves his augmented responsibilities and I look forward to continuing our close partnership.

Andrew Sweet, lead independent director of Quiksilver, said, On behalf of the board and everyone at Quiksilver, I want to thank Bob for his many years of outstanding commitment and leadership. As a representative of Quiksilvers largest shareholder, I congratulate Andy and Pierre on their expanded roles. We are confident that the Quiksilver management team can significantly increase profitability and shareholder value.

About Bob McKnight

Bob McKnight co-founded Quiksilver in 1976. He served as president from 1979 through July 1991, chairman and chief executive officer from August 1991 to January 2013, and executive chairman from January 2013 to present. Under McKnights guidance, Quiksilver grew from a startup to a globally diversified, world leader in outdoor lifestyle apparel and footwear.