(Bloomberg) — The founder of Logitech International SA is making a new effort to oust the company’s president, Wendy Becker, saying she doesn’t have the technology industry experience the company needs.
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Daniel Borel has proposed Guy Gecht as president and wants a shareholder vote at the company’s annual meeting in September, according to a letter sent to the company and seen by Bloomberg News. Borel, who claims to own more than 1% of the shares, voted against Becker’s re-election at last year’s Annual General Meeting.
Sales at Logitech, which makes keyboards, webcams and other computer accessories, have fallen following the work-from-home boom during the pandemic. The company issued a series of warnings and cut hundreds of jobs. Although shares are below their pandemic-era peak, they have seen a broad-based rally since the end of 2022, gaining more than 60% last year.
Borel said there is an “urgent need to reinvigorate the company’s creative drive,” according to the letter. He said that both chairman and CEO Hanneke Faber lack technological training and industry experience, which leads to “repeated mistakes”.
Logitech did not immediately respond to an emailed request for comment. A spokesperson could not be reached by phone.
Becker joined Logitech’s board in September 2017 and became president two years later. Gecht is the former CEO of digital printing company Electronics for Imaging Inc.
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