Sidney Harman to Retire as Chairman
Harman International announced Thursday that its founder and chairman, industry giant Sidney Harman, will retire from the company’s board of directors later this year. The company’s CEO and president, Dinesh C. Paliwal, will succeed him as chairman of the board.
The move marks the end of an era that began in 1953, when Harman founded Harman/Kardon. He will retain the title of founder and chairman emeritus.
“As I approach my 90th birthday, it is clearly a very good time to endorse Dinesh’s leadership and his outstanding team. I am confident that they will honor the company’s rich history and work effectively to build its future,” Harman said in a statement issued by the company.