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 reduction.
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.