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Logitech co-founder Daniel Borel has ignited controversy by urging shareholders to immediately remove board chair Wendy Becker, highlighting pressing issues within the company.
Borel Urges Immediate Action
In a statement released on Monday, Daniel Borel, the co-founder of Logitech International, encouraged shareholders of the Swiss-American firm to choose a new board chairwoman this year to replace Wendy Becker. Becker recently declared that she will not be running for reelection in 2025 or any subsequent election.
According to Reuters, Borel has made numerous calls for Becker to be replaced, stating that doing so would be in the best interests of the company that manufactures computer mice. In an open letter, Borel proposed that shareholders should not wait until the following year to appoint a new chair to the board of directors.
By saying that Becker's desire to step down meant that she "seemingly has little left to contribute to Logitech as it faces urgent and existential challenges," he has requested that Guy Gecht be chosen as a board member at the annual general meeting of the company.
The request for comment that was made to Logitech on the letter written by Borel, who is currently serving as the honorary chairman emeritus at the firm, was not immediately responded to.
Next Annual Meeting on September 4
CNA shares that Gecht played the interim CEO role at Logitech in the previous year. On September 4, the firm is planning to convene its next annual general meeting, according to the preliminary schedule.
An official representative for the co-founder of Logitech stated that Borel, who was one of the three individuals who established the company in 1981, currently owns somewhat less than 1.5% of the company's shares.
Borel Criticizes Becker's Leadership
Becker, who has been the chairman of the company since September 2019, is the subject of Borel's argument that the company has lost its path.
