Computer parts maker Logitech appoints Hanneke Faber as CEO

Computer parts maker Logitech International on Monday (Oct 30) 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 per cent 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 US$4 billion (S$5.47 billion) to US$4.15 billion, up from its previous view of $3.8 billion to $4 billion.

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