Pierre Agnes, the chief executive of surf clothing brand Quiksilver, is still missing at sea, after setting off from the southwest France coast on Tuesday morning (local time) and never returning.
In a statement, Boardriders said, "Early this morning our CEO, Pierre Agnes, did what he did many mornings and went fishing on his beloved boat to start his day". His boat was found near Hossegor, a famed surfing spot north of Biarritz.
Boats and helicopters are involved in the search being led by the French coastguard.
Rescuers have not said whether or not Mr Agnes was traveling alone. Rough seas were reported in the area, though wind was light and visibility was clear.More news: Action Express takes Rolex 24 victory as reliability woes end Alonso's hopes
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The missing exec joined Quicksilver, an Australian surfwear brand now based in the United States, almost 30 years ago and working out of the European headquarters near Biarritz. Three years ago, he replaced Andy Mooney, who served as the brand's CEO between 2013 and 2015.
Quiksilver, known for its surf wear, was founded in Australia but is now majority-owned by an American investment group and based in Huntington Beach, California.
A U.S. investment group, Oaktree Capital, controls Boardriders and already owns 19% of Billabong.