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Home»Business»Computer parts maker Logitech appoints Hanneke Faber as CEO
Business

Computer parts maker Logitech appoints Hanneke Faber as CEO

October 31, 2023No Comments2 Mins Read
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Illustration shows Logitech logo and stock graph

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

Oct 30 (Reuters) – Computer parts maker Logitech International (LOGN.S) 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 (VFC.N).

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 (ULVR.L) 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.

See also  Activision Stock Sinks as UK Regulator Blocks Microsoft Purchase of Videogame Maker

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

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Appoints CEO computer Faber Hanneke Logitech Maker Parts
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