Bowers & Wilkins announced a company restructuring on Wednesday, as well as the news that it will open a new R&D facility in the U.K. as a way to grow the brand in the luxury audio segment.
In a statement, CEO Gregory Lee said the company was “making changes to the structure of Bowers & Wilkins to focus the business on opportunities for growth and ensure global competitiveness.”
This includes focusing investments on product R&D and brand building, he noted, and as part of this, Bowers & Wilkins is building a 30,000-square-foot R&D facility in Southwater, U.K. It’s slated to open next year and will be more than twice the size of its current engineering center.
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Lee was appointed CEO of the audio manufacturer on Nov. 1, and he will also serve on its board of directors. He’s previously held positions with Procter & Gamble and Johnson & Johnson, with more recent roles including president/CEO of Samsung Electronics North America and global chief marketing officer of Samsung Electronics.
When asked about how the restructuring could potentially affect personnel and product development, a company spokeswoman told TWICE: “Bowers & Wilkins will be focusing resources on product development and making strategic hires that support innovation and brand building efforts.”
