Logitech’s shares have decreased by 75 percent in the past five years, but a new CEO will take over the reins in 2013, according to media reports.
InvestorGuide.com reports that Logitech President Bracken Darrell takes over as the Switzerland-based company’s CEO in January, replacing current CEO Guerrino De Luca.
De Luca, who was CEO from 1998-2008, returned in July of last year after his successor resigned as a result of sales declines, according to Investor Guide.
Investor Guide reports that at its peak, Logitech’s shares closed at more than $37 per share at the end of 2007. Today, the company is worth about $9 per share.
Darell joined Logitech after serving as vice president for Procter and Gamble, where he doubled the sales of Procter and Gamble’s leading fragrance Old Spice, according to Investor Guide.
Investor Guide reports that “Darrell described his strategy as one focused on a ‘small company’ with ‘big products.’”
For the full report from Investor Guide click here.
Logitech’s US headquarters are based in Newark. Logitech moved from Fremont into a 263,000-square-foot office in Newark’s Pacific Research Center earlier this year.