Coastal Source is reverting to its former leadership structure, with President Jeff Poggi stepping down into a consultancy position at the end of the year and Co-Founder and CEO Franco D’Ascanio taking his place as interim president.
Poggi, a 30-year veteran of the custom home electronics industry, joined the New Jersey-based manufacturer of high-end outdoor audio and lighting products last fall after serving as co-CEO of the McIntosh Group. He also spent time working for Harman and Bose.
Upon Poggi’s appointment as president, D’Ascanio assumed the position of CEO, where he led R&D efforts.
According to the company, Poggi will remain with the company as a strategic consultant, which was the role he began with at Coastal Source. D’Ascanio will be resuming the position he held before Poggi’s appointment. Harold Zimmerman, chairman of the board, will remain in his current role.
In a statement, D’Ascanio praised Poggi’s contributions to the company’s growth over the last 18 months, first as a consultant and then as president.
“His contributions have put us in a position to achieve many of our long-term growth objectives and we look forward to his continued counsel as a strategic consultant on January 1,” D’Ascanio said.
Meanwhile, Poggi said he looks forward to the next chapter of his relationship with Coastal Source, D’Ascanio, Zimmerman and the company’s leadership team and employees.
“The unique combination of family values and dedication to excellence by everyone in this organization has made Coastal Source the leader in outdoor audio and lighting,” Poggi said in the press release. “I am incredibly proud of what we have achieved to date, and I remain excited about what will come in the new year.”
