Quiksilver CEO missing at sea off the coast of France

French authorities are desperately searching for the chief executive of a top U.S. surfwear brand after his boat was found washed up on a beach.

Pierre Agnes, CEO of Boardriders Inc., the parent of Quiksilver, Roxy and DC shoes brands, set sail early Tuesday off the coast of southwest France but did not return, authorities said.

The 54-year-old’s boat was later discovered empty in Hossegor, a surfing resort town in the city of Biarritz, late Tuesday morning. According to local reports, French authorities have deployed multiple boats and helicopters throughout the vicinity to search for Agnes but had to end search efforts late Tuesday.

Boardriders Inc. released a statement saying it is devastated by the news, and given that the situation on the ground is still evolving, its statement will be limited.

“We are concentrating on working with the local authorities on the search and rescue effort and supporting Pierre's family. Please keep Pierre and his family in your prayers,” the company said, adding that Agnes’ morning boat ride was an everyday occurrence.

French rescue teams are expected to resume search efforts on Wednesday morning.

Agnes, who has been with the company for almost 30 years, recently oversaw a deal which combined two of the world’s best known beachwear brands. Boardriders announced it is buying rival brand Billabong for $300 million in early January.