INDIANAPOLIS –
Fred Klipsch remains chairman
and Paul Jacobs becomes president/CEO of Klipsch
Group as their duties are changed by the company’s
new owner, Audiovox.
Jacobs was president/COO and Klipsch relinquished
his CEO title but will
stand for election to the Audiovox
board at its annual meeting
on July 21.
The COO post will not be
filled.
The execs are staying on as
part of a promise by Audiovox
to retain Klipsch management
and the company’s culture and
philosophy, said Audiovox president/
CEO Pat Lavelle.
Klipsch Group is a wholly
owned subsidiary of Audiovox,
which purchased the company
in March, and markets home
audio speakers and audio electronics
under the Klipsch, Jamo,
Mirage and Energy brands.
Jacobs joined Klipsch 20
years ago as the head of sales
and held various executive positions
with the company. Fred
Klipsch led the organization since 1989, when he
and wife Judy purchased the company from cousin
and Klipsch founder Paul W. Klipsch, who started
the company in 1946 and passed away in 2002 at
age 98.
Jacobs becomes CEO following the company’s
most profitable year to date in 2010, said Fred Klipsch, “and the momentum continues
to build with the introduction of over
30 new products this year.” He said
Audiovox’s “expansive resources” as a
public company “are perfectly aligned
to enable Klipsch Group to build upon
its strength in the marketplace for years
to come.”
Said Audiovox’s Lavelle, “When we
announced the acquisition of Klipsch,
we indicated that the management of
the company would remain and the culture
and philosophy of Klipsch would
not change.” The appointment of Jacobs
“assures that direction,” he continued.
“During Paul’s time with Klipsch, he has
worked side by side with Fred Klipsch in
developing the products and culture that
epitomize the Klipsch brand.”
