Rescue teams searching for missing Quiksilver boss

Rescue teams were scouring the French coastline last night for signs of missing Quiksilver boss Pierre Agnes.

The 54-year-old has not been heard from since his 36-foot boat washed up on a beach on Tuesday morning.

He disappeared after going fishing. The French coastguard was yesterday searching for him in the Bay of Biscay, off Hossegor, the surfing resort from where he set sail.

Agnes had messaged port authorities warning thick fog would delay his return.

His boat was later found empty on a beach near his hometown, in the Aquitaine region.

Father-of-three Agnes is chief executive of US-based surfwear firm Boardriders, which owns the Quiksilver brand.

Quiksilver was founded in Australia in 1969, but moved to the US, where it listed in 1986.

After declaring bankruptcy in 2015, it restructured and became a private company with the help of private equity firm Oaktree Capital.

At the beginning of January Agnes had unveiled a £110m takeover of rival firm Billabong.

Missing: Father-of-three Agnes is chief executive of US-based surfwear firm Boardriders, which owns the Quiksilver brand

Oaktree Capital, which became Quiksilver’s majority shareholder when the company emerged from bankruptcy, also owns a 19 per cent stake in Billabong.

‘An air and sea search operation is underway,’ French local authorities said in a statement, It said winds were light but waves as high as eight feet were hampering visibility.

Boardriders said it was working with rescuers and supporting Agnes’ family.