Information technology: Logitech’s chief financial officer leaves after one year

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Boynton is looking to embark on another professional fight, according to a statement released Monday. He will remain in post until mid-May to ensure a “smooth transition” until the end of the current 2023/24 financial year. Logitech’s fiscal year ends March 31.

The company emphasized in its statement that Boynton’s departure would not change its financial outlook. Based on January information, Logitech expects sales of $4.2 billion to $4.25 billion, representing a 6 to 7 percent year-over-year decline. Operating profit (non-GAAP EBIT) also needs to be between 610 and 660 million, implying an increase of 4 to 12 percent.

Boynton took over as Logitech’s chief financial officer, replacing Nate Olmstead a little more than a year ago. It is not yet known who will replace Boynton. According to the statement, it was stated that his successor will be announced at a later date.

The rapid departure may have had something to do with the new CEO. Dutch Hanneke Faber has been at the head of the company since the beginning of December 2023. At that time she moved from the Unilever food company to the French-speaking Swiss computer accessories manufacturer.

Faber replaced Bracken Darrell, who had successfully led the company for a long time and resigned suddenly last June. The media later reported that behind the scenes the company had long been dissatisfied with Darrell’s performance and was therefore looking for a successor. However, the CEO caught wind of this and started looking for a new position. Today he is the president of the VF Corporation clothing company.

(SDA)

Source :Blick