Quiksilver has announced that Craig Stevenson will be promoted to global brand president and chief operating officer, while Rob Colby will become president of the company's America's region.

The surf wear company said the promotions follow a "significant improvement" in the financial performance of the company's America's business.

"Over the past two years, profits generated by Quiksilver's Americas region have nearly tripled and the company expects further significant improvement looking forward," the company said.

Commenting on the appointments, chairman Robert McKnight said: "We're really pleased with the fantastic job that Craig has done in driving the turn-around of our Americas business since he undertook the lead Americas role nearly three years ago and I'm delighted that he'll have an opportunity to make an even bigger contribution to our global success with his new responsibilities.

"At the same time, Rob has been instrumental in reorganising the Americas business through a lengthy number of process improvements and increased efficiencies and I'm certain he'll be a terrific successor to Craig as president of our Americas region. Like Craig, Rob has a long history with our company and he's extremely well-respected throughout the organization.

"With these two appointments and our progress driven by these guys in their prior roles, our great brands Quiksilver, Roxy and DC are positioned to deliver continued improved performance in the future."

Stevenson has been Quiksilver Americas president since January 2009, while Colby has been Quiksilver Americas senior vice president and COO since May 2010.