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Quiksilver CEO, CFO leave company
Huntington Beach, Calif. -- Quiksilver announced that its CEO, Andy Mooney, has resigned. Mooney had been CEO for just over two years and was appointed chairman in November. The company’s CFO, Richard Shields, has also resigned. The news comes almost two weeks after the company reduced guidance for the current year and finished an investigation into its revenue-accounting practices.
Pierre Agnes, president of Quiksilver and a 27-year-company veteran, has been promoted to CEO and added to the board of directors.
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Profit drops as Belk embarks on expansion
Belk blamed costs associated with strategic initiatives for its drop in profit in the fourth quarter.
The retailer reported a 7.8% decrease in net income to $146.1 million during the fiscal year that ended Jan. 31, compared with from $158.5 million in fiscal 2014.

