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Hurley was founded in 1979 by 23-year-old Bob Hurley (along with partner Bob Rowland and Business Manager Joe Knoernschild) as Hurley Surfboards/International Pro Designs (I.P.D.). Hurley worked for 5 years as a surf board shaper for various companies; including Lightning Bolt; Wind-an-Sea and Wave Tools. While becoming known as one of the premiere shapers in Southern California, Hurley licensed the U.S. rights to the up-and-coming Australian surf brand Billabong, and formed Billabong USA in 1983. Founding Partners in Billabong USA besides Hurley were Bob Rowland (General Partners), and as limited partners - Chip Rowland, Mike Ochsner, Joe Knoernschild, Tom Fletcher and Bill Hurley. In 1998, the U.S. licensing rights for Billabong were up for renewal after the Company had grown to over $70M in sales in America. The USA management team decided to not renew the USA license for Billabong USA - and in 1998 Hurley International was born. Founding working Partners of Billabong USA Hurley, Knoernschild, Ochsner and Bill Hurley transitioned over to Hurley International. Billabong USA's designer; Lian Murray, also became a partner with the newly created Hurley International.
Information courtesy of Wikipedia.