Logitech (NASDAQ:LOGI) International SA (NASDAQ:LOGI), a leading computer hardware and software maker, has announced the appointment of Hanneke Faber as its new Chief Executive Officer, effective from December 1, 2023. Faber, who currently heads Unilever PLC (LON:ULVR)'s $14 billion Nutrition business, brings over thirty years of global leadership experience from consumer goods, B2B, and e-commerce sectors to her new role.
Before her tenure at Unilever, Faber served as the chief commercial officer at Ahold Delhaize NV. She is set to take over from Guy Gecht, who has been serving as the interim CEO following the departure of Bracken Darrell in June. Post Faber's appointment, Gecht will return to his board responsibilities, which include leading the Technology & Innovation Committee. This transition plan was confirmed by Logitech Chair Wendy Becker.
The announcement of Faber's appointment comes on the heels of Logitech's successful quarterly results and an upward revision of its fiscal year 2024 guidance. Following the news, Logitech's stock closed at $77.64. The selection of Faber concludes a four-month search for a new CEO for the Lausanne-based company.
InvestingPro Insights
With the recent appointment of Hanneke Faber as its new CEO, Logitech (LOGI) continues to show strong financial metrics and promising prospects. According to InvestingPro, the company yields a high return on invested capital and holds more cash than debt on its balance sheet, indicating a strong financial footing. Furthermore, Logitech has maintained its dividend payments for 12 consecutive years, a reassuring sign for dividend investors.
In terms of real-time metrics, Logitech's market capitalization stands at a robust $12.16B, with a P/E ratio of 32.52 as of Q2 2024. The company's revenue for the last twelve months as of Q2 2024 was $4261.51M, despite a slight decline of -17.6%. The Gross Profit Margin stood at 38.68%, indicating a healthy profitability ratio.
Finally, Logitech's stock is currently trading near its 52-week high, with a strong return over the last three months. This positive trend, coupled with the fact that analysts predict the company will remain profitable this year, makes Logitech a compelling consideration for investors. For more detailed metrics and tips, consider subscribing to InvestingPro's premium service here, which offers an additional 16 InvestingPro Tips specifically for Logitech.
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