Quiksilver Looking Seriously at Dumping Rossignol
Last summer I asked if Quiksilver was looking to dump Rossignol, the ski company they purchased for a cool $300 mil back in March ‘05. It’s no secret (as not much is with public companies) that Rossignol has been struggling ever since it became a Quiksilver brand as the first year it went from a profitable company to a money-losing company.
Last week Quiksilver president Bernard Mariette was shown the door and troubled Rossignol was cited as one of the main reasons. Mariette was one of the main architects behind the original Rossignol deal and Quiksilver has speculated that he will likely try to acquire the company from them. I’m sure the shareholders are thrilled with that news. Either way, Quiksilver is definitely looking to get rid of Rossignol.
It’s hard to say at this point whether or not Quiksilver will try to remain in the ski game. I can imagine this has left a pretty sour taste in their mouth. If they do they should definitely purchase a smaller ‘core’ ski company that has the same culture as a surf company like QS.
On a side note: Bernard’s getting quite the severance package…
Bernard will receive $106,726 to serve as a consultant for a year. In addition, he will receive severance pay of $2.8 million.
If you enjoyed this post, make sure you subscribe to our RSS feed!
Tags: Quiksilver, Rossignol
Get daily posts like these delivered to your email.
Posted by Cameron on Monday, February 18th, 2008 in Brands, Snow.
Related Posts
Recent Comments