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.”