San Antonio — The Progressive Retailers Organization was at the Westin La Cantera Hill Coun
Schaffhausen, Switzerland – Market-share gains in Garmin’s portable navigation device (PND) segment could not offset declining industrywide PND sales in the fourth quarter, helping drive down Garmin’s fourth-quarter consolidated sales by 16 percent to $768.5 million.
Garmin also posted fourth-quarter sales declines in its outdoor, aviation and marine GPS segments, though fitness-segment revenues grew.
Schaffhausen, Switzerland—Clifton Pemble has been named president/CEO of Garmin by its board, effective Jan. 1.
Pemble has been president/COO since October 2007.
As part of the change, Garmin co-founder Dr. Min Kao relinquishes his CEO position but remains chairman. He also assumes the role of executive chairman, providing ongoing support to the company’s strategic planning and business development processes, the company said.
Pemble joined Garmin in 1989 as one of the company’s first engineers.
Schaffhausen, Switzerland – A slight decline in Garmin’s portable navigation device (PND) business was offset by gains in the company’s OEM automotive segment and other market segments to boost the company’s third-quarter sales by 1 percent to $672 million.
A “slight decline” in PND revenues was offset by “strong growth” in OEM revenues from automakers, the company said. “We believe that our PND volumes continue to trend ahead of the industry due to market share gains,” added Dr. Min Kao, chairman/CEO.