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Whirlpool’s Darrell Joins Logitech As President

Fremont, Calif. – Logitech International today announced that
Whirlpool EMEA president Bracken Darrell will become Logitech’s new president,
effective April 9, and eventually succeed CEO Guerrino De Luca.

Darrell will assume responsibility for research and development,
sales and marketing, manufacturing, supply chain, IT, human resources and legal
functions, reporting to De Luca. The company’s finance organization and
LifeSize division will continue to report to De Luca until Jan. 1, 2013, at
which time Darrell will succeed De Luca as CEO. De Luca will remain in his role
as chairman of the board.

“I’m very excited to take on this role,” said Darrell.
“Logitech’s strong history of innovation, design and leadership in this space
makes it extremely compelling to me. I’ve been a fan of Logitech products for
years, so I’m eager to join Guerrino in driving the company toward renewed
growth and increased profitability.”

Darrell, 49, joins Logitech from Whirlpool Corporation, where he
has been serving as executive VP of Whirlpool Corporation and president of
Whirlpool EMEA. Prior to joining Whirlpool in 2008, Darrell was with Procter
& Gamble, most recently as president of its Braun division, based in
Germany. He has also worked for General Electric, PepsiCo and Arthur Anderson.

“Bracken Darrell and Logitech are an excellent match,” said De
Luca. “He is a change agent, having driven innovation and transformation for
iconic consumer brands. Bracken brings a passion for keeping the consumer at
the heart of decisions as well as a fresh perspective on our business.”

Darrell’s succession of De Luca comes nine months after the
resignation of president/CEO Gerald Quindlen in July 2011. De Luca, who was
Logitech’s president/CEO from 1998 to 2008, re-entered the role on an interim
basis and launched a search for a long-term successor.

The company has endured three consecutive fiscal quarters in the
red, and Logitech stock has fallen 57 percent in 12 months. In its most recent
financial report in January, the company cited the rapid proliferation of
tablet devices as erosive to its core business of keyboards and mice for
desktops and notebook PCs.

Logitech also took a substantial financial hit from its Revue
Google TV device, which failed to gain traction even after a drastic price

There were signs of a turnaround in the Q3 report though, the
company maintained, citing a 20 percent growth in the sale of iPad-specific
accessories, record quarterly sales of its Ultimate Ears headphones line, and
strong growth in PC speakers.