Computer parts maker Logitech appoints Hanneke Faber as CEO


Logitech logo and stock graph are seen in this illustration taken, May 1, 2022. REUTERS/Dado Ruvic/Illustration/File Photo

(Reuters) -Computer parts maker Logitech International on Monday named Hanneke Faber as its new chief executive officer, effective Dec. 1, ending a months-long search for a successor after Bracken Darrell left in June.

Last week, the Swiss-American company said it was close to finding a new CEO after Darrell ended a 10-year stint to take charge of Vans sneaker maker VF Corp.

Board member Guy Getch will continue to serve as the interim CEO until the new appointment, the company said in a statement on Monday.

Faber previously served as the group president for Unilever's nutrition business.

In September, Logitech's co-founder Daniel Borel stepped up his call for the company to find a new chairperson, objecting to Wendy Becker's re-election to the role, saying the computer peripherals makers had lost its way under Becker.

Borel, who holds the honorary position of chairman emeritus and a 1.5% stake at Logitech, had said the company has failed to reduce costs sufficiently and there had been a lack of succession planning to replace CEO Darrell.

Logitech has been suffering a downturn after riding a boom during the pandemic when people stocked equipment to work from home.

The company lifted its full-year outlook last week after it upgraded its profit view and slowed the rate at which sales were falling in the second quarter ended Sept. 30, and now expects full-year sales of $4 billion to 4.15 billion, up from its previous view of $3.8 billion to $4 billion.

(Reporting by Urvi Dugar in Bengaluru; Editing by Shailesh Kuber, Krishna Chandra Eluri and Sherry Jacob-Phillips)

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

   

Next In Tech News

US Cellular to sell some spectrum licenses to AT&T for $1 billion
Datadog raises annual forecast betting on AI-driven cybersecurity demand
Italy minister open to reviewing tax hike on cryptocurrencies
Dutch chipmaker NXP sees sales growth averaging 6-10% -CEO
Italy to change web tax in bid to overcome US objections
JAL-Sumitomo JV secures right to place order for up to 100 Archer air-taxis
Software provider EPAM lifts annual forecasts as IT spending rises
India raids offices of sellers using Amazon, Flipkart platforms, sources say
Arm Holdings shares fall as revenue forecast fails to impress investors
Amazon to invest $1.3 billion in Italy data centre business

Others Also Read