Logitech Announces Executive Leadership Transition Plan
Effective January 1, 2008, Guerrino De Luca to Become Chairman, Gerald P. Quindlen Transitions to President and CEO, Co-Founder Daniel Borel Continues as Board Member
FREMONT, Calif., Oct. 17, 2007 and ROMANEL-SUR-MORGES, Oct. 18, 2007 — Logitech International (SWX: LOGN) (Nasdaq: LOGI) today announced a leadership transition plan designed for the company’s next phase of growth. Effective January 1, 2008, Guerrino De Luca, will assume the role of chairman of the board, succeeding company co-founder Daniel Borel, who will remain a member of the board of directors. Gerald P. Quindlen will succeed Mr. De Luca, who has been in his role since 1998, as president and chief executive officer. Mr. Quindlen is currently the company’s senior vice president of worldwide sales and marketing.
“Logitech is very fortunate to have such a strong team to move the company forward,” said Daniel Borel. “For nearly ten years, Guerrino De Luca has steadily guided the company from $400 million to more than $2 billion in annual revenue. True to Logitech’s vision, he has nurtured the company’s core strengths while extending its reach into new product categories and markets. As chairman of the board, Guerrino will be a great partner to Jerry Quindlen, who joined Logitech two years ago with outstanding global experience in consumer products and quickly gained a deep understanding of our business and a passion for what we do. I fully trust that Jerry and Guerrino will build the same strong partnership that Guerrino and I have enjoyed over the past ten years.”
“I have always believed that Logitech should not have the same CEO for more than ten years,” said Guerrino De Luca. “With this in mind, our chairman and board of directors have been able to conduct a thorough process for selecting my successor, and I could not be more pleased that it will be Jerry Quindlen. He is a strong leader with integrity and balanced judgment. As we continue on our long-term double-digit growth path, Jerry has the right experience to allow the company to scale effectively and gain more momentum in consumer-driven marketing. And I am proud that Jerry will transition into his new role with a very strong executive management team that he knows and respects – and that has proven excellence in product development, finance, operations, marketing and sales. I am also very pleased that my new career opportunity keeps me actively engaged with Logitech.”
Mr. Quindlen, age 48, joined Logitech in 2005 after a seventeen-year career with the Eastman Kodak Company, where his most recent position was vice president of global sales and operations for the Consumer and Professional Imaging Division, a $7 billion business at that time. During his tenure with Kodak, he held senior management positions in the United States, Japan and Asia Pacific. Quindlen holds a B.S. degree in chemical engineering from Villanova University and an M.B.A. in finance from the University of Pennsylvania’s Wharton School.
Logitech’s board of directors plans to recommend that the company’s shareholders elect Mr. Quindlen as a member of the board at Logitech’s next annual general meeting.
Logitech is a world leader in personal peripherals, driving innovation in PC navigation, Internet communications, digital music, home-entertainment control, gaming and wireless devices. Founded in 1981, Logitech International is a Swiss public company traded on the SWX Swiss Exchange (LOGN) and on the Nasdaq Global Select Market (LOGI).
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