The appointment marks the start of an accelerated growth strategy for the developer of outdoor audio and lighting solutions. Poggi previously worked with Harman and Bose, most recently served as co-CEO of the McIntosh Group.
“I am honored to join the Coastal Source family,” says Poggi. “Having worked with some amazing brands in the past, I believe Coastal Source is a perfect fit. It is the market leader in high-performance outdoor audio and lighting, and I am privileged to be part of such a successful business.”
With the appointment of Poggi as president, Coastal Source co-founder Franco D’Ascanio assumes the position of CEO, where he will continue to lead R&D [research & development] efforts. Harold Zimmermann takes on the role of chairman of the board.“
“We are very excited to welcome Jeff to our internal and external team of best in industry staff, reps, and dealers,” comments D’Ascanio. “He brings a wealth of expertise in brand building, new product development, customer service, and collaborative engagement with dealers, integrators, and channel partners—all of which will help us to achieve our long-term growth objectives.”
Jeff Poggi Leads Coastal Source into new Era
D’Ascanio, who founded Coastal Source in 2009 notes the company has grown significantly over the past decade.
“We have come a long way since our humble beginnings. Jeff brings to Coastal Source a proven track record of world class brand building with a strong emphasis on building quality and adding value to all areas of the company. Our mutual goal is to build upon all the things everyone loves about Coastal Source and take it to a level that sets a new bar for outdoor living and entertainment,” says D’Ascanio.
Today, Coastal Source emphasizes, the global outdoor lighting market is valued at just under $15.5 billion (2022), with an anticipated compound annual growth rate (CAGR) of 8% from 2023 to 2030. The much larger global audio equipment market grew to just over $33 billion (2022), with a predicted CAGR of 2.8% from 2023 to 2030, which should provide the N.J.-based company with opportunities for growth.
“Coastal Source is delighted to have Jeff Poggi join the Coastal family as president. This tight-knit family is focused on growing the brand and taking Coastal Source to the next level,” adds Zimmermann. “Jeff brings to us a plethora of ideas that simply put ‘will make Coastal Source a better company.”
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