Strategy in TECH...
Two members of the Board of Directors of CEDIA have abruptly resigned within 24-hours of each other in what appears to be a sign of turmoil roiling the organization’s Board, multiple sources told us. According to reports, Richard Millson of Millson Technologies and Bob Brown, a well-known industry consultant, have both abruptly resigned their positions on the Board.
Denise Nemchev, the popular former President of AV Tech segment for Nortek, Inc., who was let go in the wake of a major company restructuring, has now been named President & CEO of tvONE, according to a report by AVNetwork. tvONE is a supplier of professional video conversion and signal distribution equipment. Once part of Nortek itself, tvONE recently was split-off from Nortek through a management buyout by the company’s existing managers in July of this year.
Anuva Automation, the Melbourne, FL-based parent company of wireless home automation solutions provider Turn It On (TiO), announced today that it has named Sanjay Patel as the company’s new president. Patel replaces previous president Mike Anderson who stays on with the company in a consulting role.
As is their normal practice at the annual Expo, CEDIA released key results from their annual Size and Scope of the Residential Electronic Systems Market survey which is conducted in conjunction with Parks Associates. However, what is not normal is that this year we heard these results from Dave Pedigo, CEDIA’s all-around tech guy – rather than from Erica Shonkwiler, CEDIA’s Market Research Manager who has apparently left the organization. But that switcheroo was not the only surprise, as some of the results were almost shocking.
Nortek, Inc. announced late Thursday that it has called off talks with an unnamed party who had tendered an unsolicited offer. According to the Wall Street Journal and as we had previously reported, that suitor was United Technologies. Nortek stock closed Friday at $63.97/share or off 3.8%, on a day when the Dow was up .2%.
Tipped off by a source, we have learned that the turmoil at Thiel Audio continues, as yet another wave of executives have arrived and departed – leaving the company ostensibly leaderless and seemingly adrift in the market. The revolving executive door at Thiel seems to be an annual event as we await news on yet another team to jump in the saddle…or into the fire, depending on your perspective.
Bluesound, a division of Lenbrook America, has cut a deal with Best Buy that will result in a national roll-out of the company’s line of high-quality digital multi-room music systems through Best Buy’s Magnolia Design Center locations. The agreement will begin to take effect later this month in a phased introduction into the first 25 locations.
Within hours of our BREAKING NEWS report on Bill McKiegan leaving Krell Industries this morning, we received a press release from Dan D’Agostino Master Audio Systems announcing his arrival there. McKiegan rejoins the D’Agostino’s – who are the original founders of Krell – taking the position of President in their post-Krell company, effective immediately.
Dolby Laboratories announced the opening of their new headquarters facility in San Francisco at 1275 Market Street at a dedication ceremony on Wednesday that included CEO Kevin Yeaman and mayor Edwin Lee. The company says the facility, which is located in a part of San Francisco known as the Mid-Market District, is “a working lab, a vertical village, and a place where art meets science in inspiring ways.”
Krell dealers received an unexpected and, to many of them, shocking email from Krell Industries President Bill McKiegan, who announced that Wednesday was his last day at the high-end audio manufacturer. The email (reproduced below), was short on details and gave little more than a list of contacts at the company with whom dealers should consult on any future issues.
