NEW YORK (Standard&Poor's) Feb. 13, 2008--Standard&Poor's Ratings Services said today its ratings and outlook on apparel company Quiksilver Inc. (BB-/Negative/--) are unaffected by the company's announcement that its president has resigned and that it is exploring a potential sale of its ski equipment business. Robert McKnight, chairman, CEO, and founder of the company, will assume the role of president. We expect the company's operating strategies and financial policies to remain the same following the change in management. The company also said that it has retained J.P. Morgan to assist with reducing its exposure to the hard good equipment business, including selling its Skis Rossignol S.A. ("Rossignol") operations, which it acquired in 2005 for about $303 million.
