Pierre Agnes, CEO of Boardriders Inc., the parent of Quiksilver, Roxy and DC shoes brands, set sail early Tuesday off the coast of southwest France but did not return, authorities said.
Maritime authorities said two boats and three helicopters were involved in the search.
Agnes, who joined the company almost 30 years ago, was long based at Quiksilver's European headquarters in Saint-Jean-de-Luz, just south of Biarritz.
Agnes, a great surfer and fisherman, knows the area and waves really well and would have done the trip thousands of times so everyone is somewhat stunned.
Boardriders, which is 85-percent controlled by US private equity firm Oaktree Capital, owns the Quicksilver, Roxy and DC Shoes brands.
With demand for surfwear shrinking, Quiksilver filed for Chapter 11 bankruptcy protection months after Agnes took the helm, then emerged in 2016.
The statement continued by saying the Boardriders family as well as the entire surfing world has been devastated by this and the company is putting its full attention on working with local authorities in their efforts of search and rescue while at the same time supporting the family of Agnes.
Quicksilver is based in Huntington Beach, Calif. In 2003, he served as Managing Director of Quiksilver Europe and eventually worked his way up to the position of CEO, which he's held since 2015.
Dave Tanner, now managing director at Oaktree and chief turnaround officer at Boardriders, is set to become the company's chief executive once the deal closes.
This article was originally published at 12:10 p.m.
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