LOS ANGELES -- Boardriders Inc. announced Tuesday that its chief turnaround officer, David Tanner, has been appointed chief executive of the sportswear company earlier than planned. He replaces Pierre Agnes, who was lost at sea last week.
The Huntington Beach company, which holds the Quiksilver, Roxy and RVCA brands, is in the process of acquiring fellow action sports company Billabong International Ltd.
The deal, which was announced last month and is expected to close in the first half of this year, is valued at $315 million, according to a person familiar with the situation who was not authorized to discuss it.
After the deal closed, Agnes was to become president of the company and lead integration efforts, and Tanner was to be the company's chief executive.
Tanner's transition to the role was one that Agnes "had fostered and strongly supported," the company said.
"We are all grief stricken over the sudden and tragic loss of our friend Pierre Agnes," Tanner said in a statement. "At the same time, we are resolute and passionately unified in our commitment to honor Pierre's memory and extend his legacy by driving the continued resurgence and growth of Boardriders."
Agnes, 54, went fishing Jan. 30 on a small boat off the coast of southwest France, where he lived. The area is known for intense waves, and Agnes had noted the fog that morning. His boat was found washed ashore, overturned and empty. French authorities deployed boats and helicopters to search for him, but they called off the search the next day.
Agnes, a French citizen, was head of Boardriders' European headquarters before being named CEO of the entire company in 2015.
Quiksilver filed for Chapter 11 bankruptcy a few months after Agnes took over. It emerged in 2016 and changed its name to Boardriders last year.
Less than 40 percent of the company's revenue comes from North America, Tanner said in January.
Thomas Chambolle, Boardriders' global chief financial officer, will be interim president of Boardriders in Europe, the Middle East and Africa, the company announced Tuesday. Greg Healy will remain global president and president of Boardriders in the Asia Pacific region.
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