Logitech Names Vincent Pilette As New CFO, Effective Today

(RTTNews) - Computer interface devices manufacturer Logitech International S.A. (LOGI) on Tuesday named Vincent Pilette as the new chief financial officer, effective today. Pilette will replace Erik Bardman, who left the position in late April to join privately-held digital media company Roku, Inc. in a similar position.

The Apples, Switzerland-based company noted that Pilette will report directly to Logitech's President and Chief Executive Officer Bracken Darrell. The appointment saw the end of a search of internal and external candidates for Bardman's replacement.

"There is a lot of opportunity ahead for Logitech, which has an innovative culture, a strong brand and a robust balance sheet. I look forward to learn from and work with the entire Logitech team to deliver on the goals and strategy," Pilett stated.

Pilette joins Logitech after serving in a similar position at Electronics for Imaging, Inc. (EFII) for nearly three years since the beginning of 2011.

Prior to that, he served in several finance positions in the U.S. and Europe at Hewlett-Packard Co. (HPQ) for 14 years, most recently as the vice president of finance for the $20 billion enterprise server, storage and networking business, which was HP's fastest growing segment in 2010.

Over his last five years of the tenure with HP, Pilette also participated in the acquisition and integration of more than ten companies, including 3Par, 3Com, Mercury Interactive, Opsware and Peregrine.

"We're excited to have Vincent join Logitech's leadership team. Through his roles with HP and EFI, Vincent brings a unique skill set to the position. And his direct experience as CFO of a company that repositioned itself to become a dynamic growth company aligns well with our goals and strategy," Darrell said in a statement.

LOGI closed Tuesday's regular trading session at $7.82, down $0.51 or 6.98% on a volume of 0.58 million shares.