Logitech Announces CFO Departure
March 18 2024 - 1:00AM
Business Wire
Chuck Boynton to Depart Logitech in May;
Company Confirms Fiscal Year 2024 Outlook
SIX Swiss Exchange Ad hoc announcement pursuant to Art. 53 LR
— Logitech International (SIX: LOGN) (Nasdaq: LOGI) today
announced that Charles ‘Chuck’ Boynton, chief financial officer
(CFO), will be departing the Company to pursue another career
opportunity. Boynton will remain with the Company as CFO through
mid-May to ensure a seamless transition for the end of the 2024
fiscal year. His successor will be named at a later date.
“We thank Chuck for his financial leadership during his time at
Logitech. We wish him well in his next role,” said Hanneke Faber,
Logitech’s chief executive officer. “We look forward to carrying
forward Logitech’s strong track record of growth, financial rigor
and operational excellence instilled across the organization.”
“I want to thank Hanneke, the board and everyone at Logitech,”
said Chuck Boynton. “I leave holding Logitech in the highest
regard. I am enormously proud of the strides we’ve made and equally
excited about its future opportunities.”
Outlook
The Company confirmed its outlook for Fiscal Year 2024, as
previously disclosed in its January 22, 2024 earnings press
release.
About Logitech
Logitech helps all people pursue their passions and is committed
to doing so in a way that is good for people and the planet. We
design hardware and software solutions that help businesses thrive
and bring people together when working, creating, gaming, and
streaming. Brands of Logitech include Logitech, Logitech G,
Streamlabs, and Ultimate Ears. Founded in 1981, and headquartered
in Lausanne, Switzerland, Logitech International is a Swiss public
company listed on the SIX Swiss Exchange (LOGN) and on the Nasdaq
Global Select Market (LOGI). Find Logitech at www.logitech.com, the
company blog, or @logitech.
This press release contains forward-looking statements within
the meaning of U.S. federal securities laws, including, without
limitation, statements regarding our Fiscal Year 2024 outlook, and
related assumptions. The forward-looking statements in this press
release are subject to risks and uncertainties that could cause
Logitech’s actual results and events to differ materially from
those anticipated in these forward-looking statements, including,
without limitation: macroeconomic and geopolitical conditions and
other factors and their impact, for example changes in inflation
levels and monetary policies; our expectations regarding our
expense reduction efforts, including the timing thereof; changes in
secular trends that impact our business; if our product offerings,
marketing activities and investment prioritization decisions do not
result in the sales, profitability or profitability growth we
expect, or when we expect it; if we fail to innovate and develop
new products in a timely and cost-effective manner for our new and
existing product categories; if we do not successfully execute on
our growth opportunities or our growth opportunities are more
limited than we expect; the effect of demand variability, supply
shortages and other supply chain challenges; the effect of
logistics challenges, including disruptions in transportation
lines; the effect of pricing, product, marketing and other
initiatives by our competitors, and our reaction to them, on our
sales, gross margins and profitability; if we are not able to
maintain and enhance our brands; if our products and marketing
strategies fail to separate our products from competitors’
products; if we do not efficiently manage our spending; our
expectations regarding our restructuring efforts, including the
timing thereof; if there is a deterioration of business and
economic conditions in one or more of our sales regions or product
categories, or significant fluctuations in exchange rates; changes
in trade regulations, policies and agreements and the imposition of
tariffs that affect our products or operations and our ability to
mitigate; if we do not successfully execute on strategic
acquisitions and investments; risks associated with acquisitions;
and the effect of changes to our effective income tax rates. A
detailed discussion of these and other risks and uncertainties that
could cause actual results and events to differ materially from
such forward-looking statements is included in Logitech’s periodic
filings with the Securities and Exchange Commission (“SEC”),
including our Annual Report on Form 10-K for the fiscal year ended
March 31, 2023, our Quarterly Report on Form 10-Q for the quarter
ended December 31, 2023, and other reports filed with the SEC,
available at www.sec.gov, under the caption Risk Factors and
elsewhere. Logitech does not undertake any obligation to update any
forward-looking statements to reflect new information or events or
circumstances occurring after the date of this press release.
Logitech and other Logitech marks are trademarks or registered
trademarks of Logitech Europe S.A. and/or its affiliates in the
U.S. and other countries. All other trademarks are the property of
their respective owners. For more information about Logitech and
its products, visit the company’s website at www.logitech.com.
(LOGIIR)
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version on businesswire.com: https://www.businesswire.com/news/home/20240317179894/en/
Nate Melihercik, Head of Global Investor Relations -
ir@logitech.com Nicole Kenyon, Head of Global Corporate and
Internal Communications - nkenyon@logitech.com (USA) Ben Starkie,
Corporate Communications - +41 (0) 79-292-3499,
bstarkie1@logitech.com (Europe)
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