HAUPPAUGE, N.Y. — Audiovox Corporation has named longtime company executive Pat Lavelle president/CEO, effective immediately.
John J. Shalam, founder of Audiovox, will remain chairman and “will continue to play a major role in setting and executing the company’s strategic vision,” according to a prepared statement.
In addition to his new role,. Lavelle will continue to serve as president/CEO of Audiovox Electronics Corporation (AEC), the company’s wholly owned subsidiary.
Commenting on the announcement, Shalam said, “Pat Lavelle is an outstanding executive with a twenty-five year proven track record. Under his guidance, AEC has more than doubled its revenue over the past four years, driven by unique and innovative electronics products for both the mobile and consumer markets. Furthermore, Pat has assembled one of the most talented and professional management teams in the industry; one that provides a level of service unparalleled in the markets we serve. It gives me great pleasure to promote him to president/CEO of Audiovox Corporation. I have full confidence that under his leadership Audiovox will continue to develop into a leading player in the consumer electronics industry.”
Shalam said that the move will “allow me to focus my energies on seeking future acquisitions that will enhance our brand and product portfolios and ensure that Audiovox continues to grow and deliver maximum shareholder value.”
Lavelle said in his statement, “I appreciate the vote of confidence from Mr. Shalam and the board and I pledge to bring to this new position the same energy and commitment that I have given this Company every day throughout my career. There are many challenges ahead, given competitive and market forces, but I believe we have the right team in place to take Audiovox to the next level in our corporate evolution.”
Lavelle, 53, has been a VP of Audiovox since 1980; was appointed senior VP in 1991 and elected to the company’s board in 1993. Lavelle is a consumer electronics veteran who serves as vice chairman on the board of the Consumer Electronics Association.