Logitech International (Nasdaq:LOGI) (SWX:LOGN) 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.
About Logitech
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).
Logitech, the Logitech logo, and other Logitech marks are
registered in the United States and other countries. All other
trademarks are the property of their respective owners. For more
information about Logitech and its products, visit the company's Web
site at www.logitech.com.
(LOGI - IR)
