Activist investor Ryan Drexler of Consac LLC has again renewed calls for Quiksilver to put itself up for sale.

In
a letter sent to Quiksilver's co-founder and Chairman Robert B.
McKnight Jr., Drexler called on Quiksilver's board of directors “to sell
the company in order to preserve diminishing shareholder value before
Quiksilver's conditions get even worse.” He believes the company could
be worth at least twice its current market capitalization, especially to
a buyer who would reduce operating costs. A press release about the
latest letter is here.

Consac, which owns in excess of 3.5 million shares of Quiksilver, previously sent the company letters on Oct. 8 and March 9.

The letter came despite Quiksilver's move last month to restructure its management.

Pierre
Agnes, president of Quiksilver, Inc., was  promoted to CEO. He replaced
Andy Mooney, who is no longer with the company. In addition, Greg
Healy, Quiksilver’s APAC region president, was promoted to president of
Quiksilver, Inc., and Bob McKnight was appointed chairman. Chief financial officer Richard Shields also stepped down.

Quiksilver owns Quiksilver, Roxy and DC.