Tim Harmon Resigns From Quiksilver Board
josh hunter
- January 27 2009
- 906 views
- 6 comments
On January 23, former PacSun executive Timothy M. Harmon resigned as a director of Quiksilver, Inc.
Before his tenure at Quiksilver, Harmon served as President and Chief Merchandising Officer of Pacific Sunwear of California, Inc. from October 1997 until July 2005.
Compensation as Director:
(Source: Forbes.com)
The announcement was one of several items listed in the company’s 8-K Form released on January 27.
Quiksilver announced on January 26 that it would be taking steps to reduce costs, and is eliminating 200 positions within the company.
From Form 8-K:
Change in Directors or Principal Officers, Other Events
Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On January 23, 2009, Timothy M. Harmon resigned as a director of Quiksilver, Inc. (the “Company”).
Item 8.01. Other Events.
Expense Reduction
The Company issued a press release on January 26, 2009 announcing that it was taking additional steps to reduce expenses in its Americas region as part of an overall restructuring effort to reposition its business and in response to the continued decline in the consumer retail environment. The press release is attached as Exhibit 99.1.
2009 Annual Meeting
The Company’s 2009 Annual Meeting of Stockholders will be held at the Company’s headquarters at 15202 Graham Street, Huntington Beach, CA 92649 on Wednesday, March 25, 2009 at 10:00 a.m. local time. Item 9.01. Financial Statements and Exhibits.
(c) Exhibits Exhibit No. Exhibit Title or Description
99.1 Press Release, dated January 26, 2009, issued by Quiksilver, Inc.
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January 27th, 2009 at 11:07 am
Execs resigning and layoffs but still hiring of course for a good money manager
Quiksilver, located in Huntington Beach, Calif., is in need of a Cash Manager with 6+ years experience to be responsible for running a complex financial model, under the direct supervision of the CFO of the Quiksilver Americas region, which earns annual revenue in excess of $1 billion.
January 27th, 2009 at 11:26 am
I hear ya ANONY! I noticed on particular jobboards that they are always seeking some comptroller type to manage their cash/ financial grid. Since Tim Harmon happens to be a (now former) Director for Quik, what other Directors at HQ may soon see the axe or resign from their jobs? Retail and Merchandising Directors next? Gee-whiz…
January 27th, 2009 at 4:21 pm
They have a million directors of everything from merchandising, wetsuits, accessories, watches etc. They need to cut some of this fat,
January 27th, 2009 at 5:14 pm
Merchandiser(former GAP employee) will be the next head to roll. From what I saw he was steering the company in the wrong direction.
January 27th, 2009 at 6:41 pm
This is what happens when a company steers away from its roots and hires big wig CEO’s from the corporate climate. I have great admiration for ZQK but no love lost on soulless money men. Lord, knows there are far to many in this industry. Keep surf core. More Boothie types, less fat cats…
January 27th, 2009 at 10:43 pm
Can you say DARK HELMET