Ryan Drexler, who holds through his co-owned Consac company some two million shares in boardsports company Quiksilver, has – again –urged the executive board to investigate opportunities to sell the group. He reportedly also did this four months ago and has now repeated his request in a letter to Quik’s chief executive Andrew Mooney. Drexler seems to be unhappy that the executive board is taking no action to explore ways to sell the company.
The big shareholder believes that such a move is required after Quiksilver’s rather poor results for 2014 and, consequently, the development of its stock price. Most recently, the surf group announced that it needed to postpone publication of its first quarter results due to revenue cut-off issues.