Surfwear brand Quiksilver has appointed Richard Shields as the group's CFO, joining the company from sunglasses and active wear brand Oakley, where he had the same role.

"We're really pleased to welcome Rich into the Quiksilver family," said chairman, CEO and president Robert McKnight.

"His extensive corporate financial experience and proven track record in international operations, retail and manufacturing make him an ideal fit for our growing global business."

Shields has also been CFO at Southwest Water Company, Day Software Corporation, Winfire Corporation and Frame-N-Lens Optical. He has also held senior financial positions with AST Research and Taco Bell.

Quiksilver saw its first-quarter losses widen as it faced higher sourcing costs. For the quarter ended 31 January, net losses reached US22.6m against a $16.3 loss in the same period of the prior year.