Craig Stevenson has been promoted to chief operating officer and global brand president of Quiksilver Inc. as it places greater emphasis on creating new products and streamlining operations amid rising costs.

The Huntington Beach, Calif.-based board sport apparel marketer said Stevenson, who had served as the Americas region president, will focus primarily on leading global initiatives in product development, sourcing and planning for enterprise resources. The position of global brand president is newly created. As chief operating officer, he succeeds Joseph Scirocco, who continues to serve chief financial officer.

Rob Colby, previously chief operating officer for Quiksilver Americas, succeeded Stevenson as Americas region president. Quiksilver didn’t spell out how Colby’s previous role would be filled.

The personnel changes were effective Nov. 1 at the start of Quiksilver’s new fiscal year. In the nine months ended July 31, Quiksilver posted a net loss of $89.2 million on revenue of $1.41 billion as expenses, cost of goods sold and asset impairments increased dramatically. That reversed a net profit of $12.4 million on revenues of $1.34 billion in the year-ago period.

Quiksilver noted that profits generated by Quiksilver’s Americas region have nearly tripled in the past two years.

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