On April 23, 2013, the Board of Directors of Quiksilver Inc. increased the size of the Board from eight to nine directors and, upon the recommendation of the company's Nominating and Governance Committee, appointed Michael A. Clarke to fill the vacancy created by such increase. Mr. Clarke served as chief executive officer of Premier Foods Plc. from August 2011 until February 2013.

Quiksilver Inc. reported unaudited consolidated earnings results for the first quarter ended January 31, 2013. For the quarter, net revenues were $431 million, down 3% or $15 million on a constant-currency basis. The revenue decline was focused in the Americas region where revenues decreased $17 million or 9%. Pro forma adjusted EBITDA of $13 million decreased by $7 million compared with the first quarter of last year. This decrease is fundamentally the $5 million swing in the foreign currency line and the $4 million of incremental bad debt expense, along with the aggregate impact of lower sales, higher gross margin and reduced SG&A. CapEx was $13 million compared to $16 million last year. Operating loss was $8.72 million against $2.465 million for the same period last year. Loss before provision for income taxes was $27.4 million against $15.66 million for the same period last year. Net loss was $30.624 million against $20.91 million for the same period last year. Net loss attributable to Quiksilver Inc. was $31.129 million or $0.19 per basic and diluted share against $22.605 million or $0.14 per basic and diluted share for the same period last year. Adjusted EBITDA was $10.325 million against $17.629 million for the same period last year. The company reported non-cash asset impairments were $3.168 million compared with nil for the same period last year.

Quiksilver Inc. announced the appointments of Tom Hartge as Global Head of Footwear and Kasey Mazzone as Global Head of Supply Chain. The additions to the team are part of a larger senior management reorganization, which includes Pierre Agnes, President of Quiksilver Europe, assuming the additional role as Global Head of Apparel, and the Company recruiting for a Chief Marketing Officer position. Hartge, 56, is a veteran of the footwear industry. He was at Nike Inc. from 1981 to 2009. He held a number of senior level positions in product marketing, merchandising, general management, advanced research and design, and corporate and business philanthropy. As Nike's Global Brand Director, Hartge collaborated with Nike's Beijing Olympics group and Nike Plus team to synergize the company's Running business. Earlier, he was Creative Director, Advanced Initiatives. Before that, he was Director, Emerging Markets; Footwear General Manager, Americas Region; and Director Footwear Merchandising, Europe. More recently, he served as an advisor to Patagonia Inc.'s footwear division. Mazzone, 52, has more than 20 years of global supply chain experience across multiple product categories and distribution channels. Prior to joining the company, she was Senior Vice President, Global Sourcing for Lands' End, where she was responsible for product development, sourcing, technical design, quality and logistics. Earlier, Mazzone was Senior Vice President, Production & Sourcing for American Eagle Outfitters, where she developed an international vendor base and managed internal product development, and before that held senior management positions in sourcing for Gap Inc. Between 1991 and 2004, Mazzone held various positions with increasing responsibility at Levi Strauss & Co., ultimately serving as Vice President, Asia and Africa Sourcing Region.