Not one to shy away from making headlines, Noel Lee, the man behind decades-old audio brand Monster, announced a major revamping of the company’s leadership team. The moves, he said in a statement, are intended to help Monster reinvent itself and streamline its business.
Put bluntly, though, the company said it was ridding itself of “toxic members of its management team” who did not fit the mold of “honesty and integrity” that Monster holds as core company values. That toxic leadership included now-former Chief Operating Officer Fred Khalilian and a team of employees that Monster alleges he brought in an attempt “to do a hostile takeover” of the company. They were removed from the Monster management team around the end of July, according to Monster.
“It is a difficult exercise to constantly look at the relevance of a brand, and the company, and make the necessary changes to become even better and more important to our customers,” Lee said in the statement. “Change is never easy, but one has to look at the company’s product offerings, its value proposition and mission statement, and marketing and sales strategies. Monster is pleased to announce a complete restructuring and revamping of the company.”