Logitech CEO is Out
Logitech announced Thursday that its CEO, Gerald P. Quindlen, will resign and be replaced by its current chairman, Guerrino De Luca.
The announcement came as the company posted a $30 million loss in the first quarter, compared with a $20 million profit the same period last year.
"I resume my former role as CEO, on an acting basis, with unwavering commitment to Logitech and strong confidence in the Company's future and growth potential," De Luca said in a statement. "My priorities will be to pursue our many opportunities with a strong sense of urgency and to renew the confidence in Logitech among all stakeholders."