Strategy in TECH...
Bowers & Wilkins (B&W) announced today it has restructured its company in order to further its research and development initiatives. In a brief announcement, only four paragraphs long, new CEO Gregory Lee (former CEO of Samsung North America) said a new, larger research facility will open in 2019.
No doubt about it, Apple Inc. supplier Foxconn has had a really bad week. First, last Tuesday Wisconsin voters kicked Republican Governor Scott Walker out of office, replacing him with Democrat Tony Evers. Then early this week, the company released financial results with disappointing earnings that missed analysts estimates. Both of these unrelated events have combined to cause market analysts to question the company’s strategy going forward.
Gibson Brands is on the verge of emerging from bankruptcy a much healthier business in many respects – with less debt, more money in the bank, and a new leader to help the company shed its consumer electronics debacle and reconnect with the musical instrument market. The fifth time, it appears, was a charm as the court has approved the fifth revision of a company submitted turnaround plan that, cuts debt, jettisons former CEO Henry Juszkiewicz, and puts bondholders KKR in the driver’s seat.
Gordon Shackelford, Vice President of Sales for Krell over the last few troubled years, has left the company at the end of September. The public face of the company during what might be its most troubled times, Shackelford told me he needed a break after a period of great stress in his career, but he wishes Krell all the best and believes it is in the midst of a significant turnaround.
Gibson Brands’ Chapter 11 bankruptcy proceedings have continued to incessantly march forward, the gritty work of a large scale matter such as this occurring mostly in the background. However, occasionally a major factor emerges to be picked up by the media. One thing the new owners of Gibson made a fundamental part of this initiative, was to change the organization’s leadership.
This week, we learned that the company will soon emerge from bankruptcy with a new chief financial officer (CFO) – announcing the appointment of Kimberly Mattoon for the role.
Vanco has always seemed to be that reliable supplier in the background providing a steady stream of solutions like cables, connectors, and other accessories – not particularly glitzy or exciting, but steady and there. Well all that is about to change I learned when I spoke with Mark Corbin, Vanco’s recently appointed President at CEDIA Expo18 earlier this month. The company has begun a big initiative to become a major player in a category near and dear to my heart…audio.
As usual, our first official CEDIA Expo press conference was Origin Acoustics. And as usual, Origin begins the show by putting on the Dave Donald show. Donald, who is Origin’s “Worldwide Ambassador,” is a showman at heart with a dynamic speaking style and sprinkles of exciting hyperbole. I have to say, while Donald seemed slightly lower key that at past shows, you certainly won’t drift off to sleep when he’s verbally throwing new models at you.
Krell Industries LLC formally announced today it has hired Walter Schofield as its new Chief Operating Officer. Schofield is fairly well known in the audio community, in fact, Krell refers to him as an “industry veteran.”
Seems like my good friends over at AVNation.tv didn’t learn their lesson! Once again, they invited me back to participate in a new episode of their popular ResiWeek podcast, hosted by Matt D. Scott (he insists on including the “D” in his name for some reason).
Vanco International LLC, a provider of AV and accessories products, announced this week that Randy Blanchard has joined the company as its new Director of Audio Products. Among other things, Blanchard will oversee the company’s Pulse Audio and Beale Street Audio brands. Blanchard joins the company after a 13½-year career with ADI.
