Industry veteran Jim Minarik will retire from his position as CEO of DEI Holdings by July 1 but will remain non-executive chairman of the board and serve as an adviser, the company announced.
No replacement has been named.
Minarik is the company’s second CEO since its founding in 1982 by Congressman Darrell Issa, who sold the business in 2000. Minarik joined DEI as CEO in 2000.
In the consumer electronics industry, Minarik served as a full-time operating executive for 40 years.
Minarik previously served as the CEO of Clarion Corp. of America from 1992-2000. He started his career at Altec Lansing Consumer Products.
Under Minarik, DEI diversified from a vehicle-security and remote-start company into a CE company with the acquisition of home-audio suppliers Definitive Technology and Polk Audio. The company also acquired Autostart, Astroflex, Trilogix, Directed Canada and Designtech International during his tenure and became the exclusive hardware partner for Sirius Satellite Radio from 2004-2008.
The company said it holds top market share in both the vehicle-security and remote-start aftermarket with brands that include Viper, Clifford and Autostart.
In 2005, the company went public but went private again in 2011 when it was principally acquired by Charlesbank Capital Partners, a $2 billion private equity fund based in Boston.
Charlesbank president Michael Choe said the board will consider internal and external candidates to replace Minarik as CEO.
Said Minarik, “I’ve been privileged to lead one of the greatest teams and companies in the CE business over the past 15 years, but it’s time to transfer DEI’s helm to a new generation of leadership. I look forward to working with the board and management team during the transition period and to then continue as non-executive chairman, being available as an adviser.”