Harman Founder Feels Fine About Failed Merger
The legendary founder of Harman International, Sidney Harman, now believes that the collapse of his company’s $8 billion purchase by Kohlberg Kravis Roberts and Goldman Sachs was “good for both sides,” and that KKR’s lending of $400 million to his company was “remarkably helpful” to Harman International.
In an interview with the Washington Post, Harman added that he plans to remain chairman of the company for as long he feels he is making a significant contribution, and that company CEO Dinesh Paliwal is “superbly qualified and absolutely committed.” He also discussed his thoughts on employee productivity, what’s on his iPod, and the political advice he gives (and takes from) his wife, Democratic Congresswoman Jane Harman of California.
The 89-year-old Harman founded the company that bears his name in 1952.
- Companies:
- Harman Kardon
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