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.