Logitech founder urges company to replace board chair immediately
ZURICH, Aug 5 (Reuters) -Logitech International LOGN.S co-founder Daniel Borel on Monday urged shareholders at the Swiss-American company to find a new board chairperson this year to replace Wendy Becker, who recently announced she would not stand for reelection in 2025.
Borel has repeatedly called for Becker's replacement, arguing it is in the best interests of the computer mouse maker, and in an open letter said that shareholders should not wait until next year to put a new chair onto the board.
He has proposed board member Guy Gecht be chosen at the firm's annual general meeting, arguing that Becker's plan to step down meant she "seemingly has little left to contribute to Logitech as it faces urgent and existential challenges".
Logitech did not immediately reply to a request for comment on the letter from Borel, who holds the honorary position of chairman emeritus at the company.
Gecht previously served as Logitech's interim CEO last year. The company is tentatively scheduled to hold its next annual general meeting on Sept. 4.
Borel, one of three people who founded Logitech in 1981, holds just under 1.5% of Logitech's stock, according to spokesperson for the co-founder.
Borel argues the business has lost its way under Becker, who has chaired it since September 2019.
Writing by Dave Graham; editing by David Evans
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