Lake Success, N.Y.
– In a corporate realignment,
said Tuesday it has
appointed Michael Troetti, former president of Sharp Electronics’ U.S. marketing
company, as the new company president. Young Dong Lee, Coby founder and former
president, advances to CEO, and Sam Oh, former senior VP, becomes COO.
“Coby has made
great strides entering new markets and product categories and achieving robust
sales even in a recessionary climate,” Lee said in a statement announcing the
moves. “The new structure of our executive leadership is part of our long-term
strategic vision to ensure solid, broad-based growth well into the future.”
Troetti is a nearly
30-year veteran of the consumer electronics industry. Before joining Sharp, he
served as president of Panasonic’s home and commercial products company, rising
to the position after 23 years at Panasonic.
Troetti will be
tasked with establishing and implementing long-range goals and strategies for Coby’s
continuous growth, the company said. He will report directly to Oh and Lee.
“Michael Troetti
is a talented executive and tactical thinker who will contribute in very real
and important ways to Coby’s growth and prominence in the CE industry,” said
Oh. “We’re very pleased to have him on board at Coby, and we look forward to
his contributions driving product development and sales.”
Under the new
corporate structure, Troetti will lead an executive team including: Joe
Giametta, sales VP who is a six-year company veteran, and Michael Paladino,
senior marketing manager, who has led Coby’s brand marketing and product
development programs since 2009. Also reporting to Troetti will
be Raymond Kim, finance VP; Jones Kim, global planning controller and director;
Daniel Song, operations and global credit director; Charles J. Alaimo, global
human resources director; John Fletcher, purchasing manager; and Vincent
Castiglione, general counsel.
“I’m very excited
to join Coby and help lead the company to achieve the next level in its growth
trajectory,” Troetti said in a statement.
“Coby has a terrific team of highly dedicated professionals that I’m
proud to be a part of, and I look forward to enhancing the Coby brand name
among consumers.”
In his new role as
CEO, Lee will focus on reinforcing and expanding Coby’s operational
efficiencies, grow overall worldwide business.
As COO, Oh will
concentrate on executing the company’s long-range product and technology
development strategy by identifying future designs and trends.
Coby said it
achieved a “Top 10” sales ranking in eight of the leading CE categories,
including video MP3 players, digital photo frames, portable DVD players, stereo
headphones and DVD players, according to the latest data from The NPD
Group.
Last fall, Coby
added a line of compact Snapp digital camcorders that compete strongly in the less-than-$100
price segment.
