Quicksilver (ZQK) Director Dolan Resigns Over 'Lack of Trust'

June 3, 2015 5:24 PM EDT

Quicksilver (NYSE: ZQK) disclosed the following Wednesday evening:

On May 28, 2015, Elizabeth Dolan resigned from the board of directors (the “Board”) of Quiksilver, Inc. (the “Company”), effective immediately. The Company believes, based on correspondence from Ms. Dolan attached hereto as Exhibit 17.1, that Ms. Dolan resigned from the Board based on her belief that she was prevented from fulfilling her duties as a director as a result of her exclusion from certain Board matters.

Exhibit 17.1 follows:

MAY 28, 2015

Dear fellow Quiksilver Directors:

It is with regret that I inform you that I am resigning from the Quiksilver board effective immediately.

I joined this board with a strong commitment to carrying out the full responsibilities of a Director. By excluding me from crucial board discussions and votes, I have been prevented from fulfilling this role. Indeed, your lack of trust in me has been made clear. On my end, this can’t be rebuilt.

With respect, I wish the best for the future of Quiksilver.

Elizabeth G. Dolan

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