Elizabeth Dolan, chief marketing officer of Fox International
Channels, has resigned from Quiksilver Inc.'s board, saying the
company had excluded her from crucial discussions and votes.
"Your lack of trust in me has been made clear," Ms. Dolan wrote
in a May 28 letter, which the branded apparel and footwear company
made available in a securities filing on Wednesday. "On my end,
this can't be rebuilt."
Quiksilver didn't respond to requests for comment. Ms. Dolan
couldn't immediately be reached for comment.
Ms. Dolan, who previously worked in a similar marketing capacity
with OWN: The Oprah Winfrey Network, joined 21st Century Fox's Fox
International channels in 2011. As chief marketing officer, Ms.
Dolan is responsible for brand development, consumer, corporate and
trade communications across the group's FOX, National Geographic
and FOX Sports branded channels outside the U.S., according to the
company's website.
21st Century Fox and News Corp, owner of The Wall Street Journal
and Dow Jones Newswires, were until mid-2013 part of the same
company.
Quiksilver had hailed Ms. Dolan's addition and "important
insights and guidance to board deliberations" citing her "extensive
experience in the world-wide marketing of globally recognized
brands," according to a biography that had been posted on
Quiksilver's website and has since been removed.
The Huntington Beach, Calif., teen retailer has shaken up
management, ousting Andy Mooney, who had been its chief executive
and board chairman, in March.
The move followed an internal review that resulted in the
company correcting errors as to when revenue was recognized and
impairment charges related to the sale of its equity stake in
Surfdome Shop Ltd.
Shares, which set a 52-week-low of $1.18 on Wednesday during
regular trading, fell 2% to $1.22 in late trading.
Through Wednesday's closing, the company's stock was down 63%
over the past 12 months.
Write to Maria Armental at maria.armental@wsj.com
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