Printed from http://www.electronista.com

Logitech shakes up executive team after earnings report

updated 01:40 am EDT, Thu April 26, 2012

New president eliminates two executive positions

Following a lackluster fourth-quarter fiscal report, Logitech announced an executive reorganization to simplify the entire organization through restructuring. Two executive management positions were eliminated completely, with one executive leaving the company on May 15.

The position of executive vice president of the products group and president of Logitech Europe has been eliminated. Junien Labrousse, the previous officeholder, has assumed the role of senior vice president of the PC, Mac, and tablet business group. Senior Vice President of Worldwide Sales and Marketing Werner Heid has lost his job with the elimination of his position. Heid will be departing Logitech effective May 15. The elimination of one executive managerial position and consolidation of brand management is expected to result in a cost savings of $80 million in annual operating costs.

For Logitech's fiscal year 2012 that ended on March 30, the company's total sales were $2.32 billion, down $40 million from 2011. Net income for FY 2012 was $71 million, down 44 percent from fiscal year 2011. Gross margin dropped from 35.4 percent in FY 2011 to 33.5 percent in FY 2012. Improvements in the organization and processes of Logitech are expected to improve financial performance by the second half of fiscal year 2013.




By Electronista Staff
Post tools:

TAGS :

toggle

Comments

  1. Blairmc

    Fresh-Faced Recruit

    Joined: Sep 2003

    +1

    You can start off

    By writing good software for the Mac, Logitech Control Centre a virus and a POS

  1. johncarync

    Fresh-Faced Recruit

    Joined: Oct 2002

    +1

    iPads and iPhones making them moot

    With the advent of the iPad and iPhone (and all the copycats), we no longer buy a keyboard because it's a software keyboard and we don't buy a mouse or stylus because we use our finger. It's hard to be a peripheral manufacturer in a world where devices don't require peripherals.

  1. ggirton

    Fresh-Faced Recruit

    Joined: Nov 1999

    0

    dreamy looking keyboard

    I definitely would have bought that one ten years ago. The keyboard I DID buy is the one you all know about, with the clacky keys & it has one additional trick -- a bluetooth switch so I can use it on my phone or iPad or ... bluetooth-equipped computer. No more two keyboards on the desk! Yay!

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

D-Link DIR-510L 802.11AC travel router

Having Internet access in hotels and other similar locations used to be a miasma of connectivity issues. If Wi-Fi was available, it wa ...

Ooma Office small business VoIP

Voice over IP (VoIP) services have been around for a very long time. Only recently has the implementation become a bit more robust, al ...

BOXi T-200 travel projector

Projectors have become a key piece of equipment for the business world. From multi-media presentations to the traditional slideshows, ...

Sponsor

toggle

Most Commented

 
toggle

Popular News