Logitech announced Thursday that its CEO, Gerald P. Quindlen, will resign and be replaced by its current chairman, Guerrino De Luca.
Gerald P. Quindlen
This is becoming a trend. After a disappointing Q4 saw Logitech reduce the price of its Revue it revealed today that after a net loss of $29.6 million for the first quarter it is cutting the price of the Revue to $99, as well as saying goodbye to CEO Gerald P. Quindlen. Quindlen had been an outspoken supporter of the Google TV box, but according to Logitech this price cut and corresponding $34 million hit to its finances are necessary to "remove price as a barrier to broad customer acceptance."
John Froman was appointed executive vice president and chief operating officer of Circuit City. He most recently held the title of executive vice president of merchandising. Froman joined Circuit City in 1986. Also at Circuit City, Kim D. Maguire was named executive vice president of merchandising. He succeeds John Froman, who was promoted to executive vice president and COO. Maguire formerly was senior vice president, hardlines, for Target Stores. He brings to Circuit City more than 20 years experience with Target to his new position. At Tweeter Home Entertainment Group, Rick Johnson was hired as national director of construction. Johnson joins the company with