Logitech giant names Hannke Faber as new CEO

According to news from this site on October 31, PC peripheral manufacturer Logitech International appointed Hanneke Faber as its new chief executive officer (CEO) on Monday,effective from December 1.

According to Logitech’s official introduction, Hanneke has more than 30 years of global business leadership experience in various consumer products, B2B and e-commerce businesses. She has driven billions of dollars of business growth and significant transformation at three companies: Unilever, Ahold Delhaize and Procter & Gamble

Hanneke joins Logitech from Unilever where she was a group President, responsible for leading the nutrition business worth US$14 billion (currently approximately 102.62 billion yuan). Her responsibilities span more than 150 countries and include global brands, R&D, the B2B Unilever Food Solutions business and supply chain consisting of approximately 60 factories and contract manufacturers globally.

Logitech’s former CEO Bracken Darrell resigned in June to join VF Corp, the parent company of sneaker maker Vans. Logitech revealed last week that it is close to finding a new chief executive

Logitech also raised its full-year forecast after growing profits and slowing sales declines in the second quarter ended Sept. 30.

In September of this year, Logitech co-founder Daniel Borel called on the company to find a new chairman, objecting to Wendy Becker continuing to hold the position,and saying that Logitech had lost its way under Becker's leadership.

According to Logitech’s second quarter financial report, the company’s total revenue in the first six months was US$2.032 billion (approximately RMB 14.895 billion), a decrease of 12.01% compared with the same period last year. The company's total revenue in the same period last year was US$2.309 billion (approximately RMB 16.925 billion)

Logitech's cumulative net profit in the first six months was US$200 million (currently approximately RMB 1.466 billion), and its cumulative net profit in the same period last year was US$183 million (currently approximately RMB 1.341 billion), a year-on-year increase of 9.25%.

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