Strategy in TECH...
Change continues to come fast at Masimo Corporation as well-known and respected Brand President and General Manager Joel Sietsema announced on Tuesday that he was no longer with Masimo Consumer, the audio division of the company. This announcement, coming as it did without warning or explanation, raised a lot of eyebrows around the industry – with many reaching out to Strata-gee seeking context.
Masimo Corporation (Nasdaq: MASI) announced on Monday that it could confirm that activist investment group Politan Capital Management – whose founder and Chief Investment Officer is Quentin Koffey – has provided it with notice of its intent to nominate two candidates to stand for election to the company’s Board of Directors at its upcoming 2024 Annual Meeting. This action by Politan, management says, “run[s] counter to the stockholders’ best interests…”
Oh-oh…the knives are coming out…
AVPro Global Holdings, LLC, parent company to growing technology brands such as AVPro Edge, AudioControl Pro, Bullet Train, Murideo, and Then Audio, announced today that it has named well-known industry executive Mike “Sparky” Detmer as its Chief Operating Officer. Detmar is well known to many in custom integration for his long stint at Niles Audio, part of Nortek, and once a pillar brand for many integrators across the country.
Now Detmer joins AVPro Global to help them scale their operations in support of their fast-growing residential and commercial integrator solutions business.
Ellipsys Commercial Technology Group, the new dealer buying group for commercial integrators that is part of the Nationwide Marketing Group portfolio, announced this week it has achieved solid progress in its establishment as a completely new buying group. The company says it believes it is “off to a fast start in 2024,” with more evidence of its progress showing up every day.
A new high-end, high-performance, direct-to-consumer audio company called Austin AudioWorks is officially launching the brand during the upcoming AXPONA show at the Schaumberg Convention Center in Chicago, IL from April 12-14. The company says its products “are very different from the mainstream” and show attendees will want to stop by and audition the new line in person at the show.
One business day after Masimo Corp. [Nasdaq: MASI] announced plans for a spin-off of its Consumer division, the business unit formed by the acquisition of Sound United, activist investor Politan Capital Management and its CIO Quentin Koffey – a current Masimo Director – announced the nomination of two more independent director candidates for the Board of Directors. In a statement accompanying the announcement, Koffey takes the gloves off alleging Board dysfunction, uncooperative management, and says Kiani’s desire for control “is troubling.”
Pop a fresh bowl of popcorn and settle into a comfortable chair…things are getting pretty interesting in this story of escalating boardroom and management drama.
In a release distributed late in the day on Friday after the close of financial markets, Masimo announced that the Board of Directors has “authorized” company management to prepare a spin-off of the company’s Consumer Business. Masimo Consumer is the business unit created when the company acquired Sound United in early 2022.
Southern California-based manufacturer sales representative firm AV Partners has added a well-known industry veteran to its team, as well as a trio of leading AV brands to its line card in a significant expansion of the organization. A respected firm with a full team covering a large multi-state territory that specializes in representing top custom integration brands, AV Partners brings a unique mix of capabilities, experience, and creativity to bear for the benefit of all of their dealers.
Leading consumer speaker brand Klipsch announced this week that it is partnering with Marvel Animation’s X-Men ’97 as the official home speakers for the series which launched on Disney+ Wednesday. If you have kids, you likely know the popularity of the X-Men franchise, which with this new series looks to trade on that popularity to the benefit of both partners.
The overall housing market has been an economic laggard as the country has seen its economy rebound in the post-pandemic era. The reason for this is primarily due to an unusual combination of high interest rates AND high home prices AND limited available inventory of homes for sale. It is a triple witching that has bedeviled the housing industry in the post-pandemic era.
But is housing about to turn up?
