Bowers & Wilkins Shakes Up Executive Leadership
CEO Gideon Yu and president Greg Lee have resigned from Bowers & Wilkins, which will now be totally independent from EVA Automation.
Former Facebook CFO Gideon Yu and former Samsung executive Greg Lee are no longer leading Bowers & Wilkins, the company announced. Going forward, Bowers & Wilkins will have a Board which is independent of EVA Automation, although the businesses will continue to co-operate with each other where mutually beneficial. EVA Automation acquired Bowers & Wilkins back in May 2016.
The recent developments will have no impact on the day-to-day management and direction of Bowers & Wilkins. The brand’s stakeholders are actively supporting its activities while it re-focuses its world-class resources on the research and development, manufacture and distribution of premium loudspeakers, audio components and headphones.
As part of the new structure Gideon Yu and Greg Lee are no longer leading Bowers & Wilkins. David Duggins has been appointed to the board as sole Independent Director, with Geoff Edwards leading the executive team in assuming responsibility for the day-to-day operation of the business. This highly experienced management team will ensure stability as the business looks to continue its recent success in the months to come.
The overall business performance of Bowers & Wilkins remains very good. The brand has just enjoyed one of its best-ever sales quarters, has a full order book for its premium 800 Series Diamond loudspeakers and has won multiple Awards for many of its newly released products. At the same time, its partnerships with Philips TV, BMW, Maserati, McLaren and Volvo continue to thrive. There will be several exciting new product launches in the months to come to help build upon this sustained track record of success.
Bowers & Wilkins will continue to develop and manufacture world-class audio products, having successfully diversified its product portfolio into new categories over the past decade. The company will continue to evolve its offering as new technologies and opportunities permit. The brand remains committed to maintaining its UK and overseas operations, with the company’s headquarters, R&D facility and premium manufacturing remaining in the UK.
Bowers & Wilkins, founded in the UK in 1966, designs and manufactures precision home speakers, headphones, custom installation and performance car audio products. The company recently made a much-ballyhooed return to CEDIA Expo after several years of absence.
