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He would have every reason to speak really loudly on social media. Instead, Wendy Becker (57) remains silent. As Logitech’s chairman of the board, she is an exception: Becker is the only woman to head an SMI group. All 19 other companies in the leading Swiss index rely solely on presidents and male CEOs.
Isn’t he proud of it? “I am passionate about equality and inclusion,” Becker says when he picks up Blick at Logitech’s Swiss headquarters in Ecublens VD, near Lausanne. “But actions speak louder than words.”
Becker landed in Switzerland from Japan a few hours ago. Due to his various duties – for example, on the board of directors of the Japanese electronics group Sony – he spends a lot of time on airplanes. “I don’t even know if I have jet lag. My body forgot what time zone I was in.”
So you need caffeine before you talk to Blick. Becker buys his own coffee. The queue in front of the machine is long. Time for small talk with the employees. “It’s one of the ways to get to know the people here more personally.”
Wendy’s wand
After each quarter, Becker randomly selects 15 to 20 employees for replacement, whether they’re a factory worker in China, a manager in California’s Silicon Valley, or an engineer in Switzerland. There’s always “Wendy’s magic wand question” at the end. She writes: “If you could change one thing with a magic wand at Logitech, what would it be?”
The ideas produced by the staff are great. “An employee suggested a new chapter for Logitech. I discussed the idea with our CEO. We’re investing in it now. Unfortunately, I can’t say what it is yet.”
It’s rare for Becker to speak out in the media. He has given only one interview since taking office in 2019. It took more than a year for the date with the busy woman to arrive. Wendy Becker is taking her time this morning, after all, a lot has happened in the last few months and years.
The rise and fall of Logitech
Logitech has come a long way. The company now has around 5,000 employees worldwide, compared to 3,200 in 2019. This is because of the corona pandemic, where Logitech has benefited tremendously financially. In times of quarantine and work from home, employees worldwide stocked the Swiss company’s computer accessories – sales soared. The share price rose from 33 francs to 119 francs from early 2020 to mid-2021 – an increase of 260 percent!
The coronation took place in September 2021, when Logitech removed the Swatch group from SMI. Since then the share price has gone downhill and is now 56 francs. Most of the gains in the stock market were unsustainable. Logitech could no longer meet the growing expectations of analysts. “During the pandemic, our products went on a buying spree,” Becker says. This later subsided. According to media reports, Logitech had to lay off 300 of its employees in March.
Revolutionizing virtual meetings
Becker is relieved when he talks about the negative development in the stock market. “We’re in a stronger position than we were three years ago, and we’re in an extremely good position over the long term,” he says, with the best PR attitude. The truth is, many people use Logitech products at home, tablet and office because of their hybrid working models. “So the opportunities for us have increased.”
Founded in Lausanne in 1981, the company does not want to rest on its laurels when it comes to ergonomic keyboards and mice. A key part of the company today is its e-games division, which continues to grow worldwide. Logitech equips publishers who stream their games online with accessories like speakers, headphones, and cameras.
Wendy Becker sees great potential in virtual meetings that have become the norm in the post-pandemic business world. “For example, we want to enhance the experience there with more cameras to enable different perspectives and close-ups of people during an online session.”
Important Career
He was born in America with a British and Italian passport and appears motivated to actively help shape the future of Logitech. His rise to the business elite is remarkable. After studying at Stanford, he was in charge of the British consumer goods business at McKinsey. He later managed British clothing retailer Jack Wills – first as COO and then as CEO. Today, in addition to directors at Logitech and Sony, he serves as director of the Great Portland Estates real estate company and on various committees at the University of Oxford.
“Whenever I’m free, I’m outside in nature and I go for a walk to recharge my batteries,” says the mother of three adults. “I try to get some exercise every day, no matter how stressful it is. It’s important for mental health.”
No quota for women
No time for jogging this morning – the next session awaits you. Becker won’t be the only woman in this room. “I’ve been campaigning for more women in leadership positions over the years, even if I’m not speaking publicly about it,” she says, highlighting her efforts at British charities where she sits on the board.
“As a woman, I had to overcome more obstacles than men – for example, when I was pregnant at a crucial point in my career.” But Becker doesn’t want to know anything about female quotas in companies. “Forcing doesn’t work,” she says. Wendy Becker can’t reveal more about it. She repeats one last time: “I prefer actions to words.”
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
