TIVOLI AUDIO ANNOUNCES PROMOTIONS, APPOINTMENTS FOCUSED ON INITIATIVES TO FURTHER BUILD ICONIC BRAND - Twice

TIVOLI AUDIO ANNOUNCES PROMOTIONS, APPOINTMENTS FOCUSED ON INITIATIVES TO FURTHER BUILD ICONIC BRAND

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BOSTON, MA, Feb. 24, 2015, /PR Newswire/ -- Tivoli Audio LLC (www.tivoliaudio.com), the iconic high-performance audio company, announced today a series of promotions and appointments focused on taking Tivoli Audio into the future and building on the company’s leading brand position. The appointments are part of the initiative to facilitate the transition of the company’s founder, Tom DeVesto, who served as the company’s CEO since inception, and to catalyze the next phase of the global prestige brand’s growth. Mr. DeVesto will continue to serve as a design consultant to Tivoli Audio.

Tivoli Audio’s board has appointed Lisa Kaufman, Partner of Levy Capital Partners (New York, Chicago, Seattle) to serve as Interim CEO. In this role, Ms. Kaufman will utilize her 25-year background as an advisor, corporate development officer and CEO in the branded consumer products and technology industries, together with a specialization in founder transitions for privately-held companies, to help ensure a seamless transition. Ms. Kaufman and Levy Capital Partners have served as an advisor to Tivoli Audio since 2014.

“We want to thank Tom for his many contributions to Tivoli Audio over the years. He is a true industry pioneer with an illustrious career spanning more than 50 years,” said Ms. Kaufman.  “He has built a talented global management team with employees worldwide who have played, and will continue to play, an essential role in the company’s future success. Our longstanding investors are excited to have taken the company to this level and are looking forward to the next phase of growth, which includes continuing to build the brand, together with our loyal customer base, and expanding our reach in markets where we do not yet have as strong of a presence.”

Tivoli Audio’s global reputation for outstanding design, combined with top-tier audio performance, provides the company with significant opportunities to continue to drive growth.  Tivoli products have been featured in blockbuster award-winning movies and television shows, and can be seen (and heard) in leading hotels around the globe.

“Our goal is to grow the brand and continue to provide innovative products to our customers, while staying true to Tivoli Audio’s core values relating to design, quality and innovation,” Ms. Kaufman added. “Tivoli Audio is committed to continuing to provide our customers with the highest level of service and value.  This commitment will only be built upon and enhanced going forward.”

As a key part of the growth plan, Tivoli Audio has promoted Stephen DeFuria from Director of Sales, to Vice President of Global Sales Operations. Tivoli Audio enlisted Mr. DeFuria in 2014 for his customer-focused approach and 30-year track record of sales leadership in the high performance audio industry. His previous roles include leadership positions with VANA Ltd., Thiel Audio, Tempo High Fidelity, and Lenbrook/NAD.  Tivoli Audio is also pleased to announce the promotion of Daniel Atanasov from Controller, a position he has held since 2007, to Vice President of Finance of Tivoli Audio.

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About Tivoli Audio

Tivoli Audio was founded in 2000 to bring beautifully designed, simple-to-use, high-quality audio products to the consumer. Tivoli Audio’s highly-acclaimed audio products include the Model One AM/FM Table Radio, the PAL/iPAL, a portable audio solution, the Model 10, a compact digital clock radio, Radio Silenz Noise-Cancelling Headphones and a suite of Bluetooth-enabled products including the PAL BT, Model One BT, Albergo.  The recently introduced Music System Three is receiving accolades from renowned music publications and reviewers worldwide. Tivoli Audio manufactures and markets award-winning signature audio products that have not only broken the sound barrier in terms of high fidelity performance, but are produced in a unique range of colors and furniture grade woods to look as good as they sound. Today, Tivoli Audio products are sold in over 50 countries worldwide. For more information, please visit www.tivoliaudio.com.

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Media Contact:  Cathy Callegari – 212-579-1370 or cathy@callprinc.com

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