DC Shoes President Nick Adcock is leaving the company at the end of June. The internal announcement was made to DC employees today.
DC is the top-performing brand for Quiksilver and the company's main growth vehicle. A potential sale of DC did not materialize after Quiksilver obtained a $150 million loan to stabilize its finances. Nick's resignation comes a day after Quiksilver announced the financial restructuring and that it would not sell any of its brands.
I asked Nick via email what he plans to do next. Here's what he had to say:
"Here till the end of June and then who knows. No plans for the future just looking to take some time out to spend time with my wife and young boys, Syd & Rex. We have a holiday house in Ibiza, Spain and we are going to leave in August for a few months to relax, recharge, and then i will evaluate what opportunities are around.
"Been seven years with DC (four as Global President) and it has been an absolute honor to manage the company through a time of great growth and evolution from $160m to $500m. I leave knowing that there is an amazing team of dedicated and committed people who I am extremely proud to have lead. Without doubt they are the reason DC is the global action sports powerhouse brand that it is. I sincerely wish them all the best for the future."