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Vista, California (5-18-2009) - DEI Holdings, Inc., the parent company of Polk Audio, Definitive Technology, and Directed Electronics, is announcing management changes to better align its organizational structure with its operating strategy. Specifically:
- Mike Simmons is joining the Executive Team of DEI Holdings, Inc. where he will assume the newly created position of Executive Vice President - DEI Holdings.
- Kevin Duffy will continue in his current role as CFO of DEI Holdings, but also assume the additional title and responsibilities of President of the Directed Electronics business unit.
In his new role, Mike will be responsible for identifying and overseeing the implementation of synergies and efficiency improvements across all DEI Holdings business units, primarily in the areas of Operations, Accounting, Information Technology and Legal. "Our strategy remains consistent in ensuring our brands maintain their unique selling propositions in the marketplace," said Jim Minarik, CEO of DEI Holdings. "However, it has become increasingly clear that we must also continuously optimize our operations in order to drive long-term earnings and deliver industry leading customer service. Consequently, in his new role, Mike will be responsible for ensuring the rest of the organization is delivered excellent services while ensuring that each business unit has the tools necessary to be successful. We are fortunate to have the benefit of Mike's strong analytical skills and broad background in this new position."
While Kevin will maintain his role as CFO of DEI Holdings, he will also be assuming the role of President of the Directed Electronics business unit, and will continue to implement many of the plans that Mike has set in motion. With several years as part of the DEI Holdings' family of companies, Kevin is uniquely positioned to drive the strategic direction and execution of our security/remote start and Orion car audio businesses.
"We expect these changes will make us even more nimble and responsive as we continue to aggressively address both the challenges and opportunities before us," said Minarik. Mike and Kevin will both also continue to serve as members of DEI Holding's Senior Officers Group (SOG), along with Jim Minarik, Joe Tristani, Jeff Nemec, Ben Newhall from Polk Audio, and Dave Peet from Definitive Technology.
About DEI Holdings
Headquartered in Southern California, DEI Holdings, Inc. is the parent company of some of the most respected brands in the consumer electronics industry. DEI Holdings is the largest designer and marketer in North America of premium home theater loudspeakers (sold under the Polk Audio® and Definitive Technology® brand names), and consumer-branded vehicle security and remote start systems (sold under Viper®, Clifford®, Python®, Autostart® and other brand names).
DEI Holdings is also a supplier of mobile audio sold principally under the Polk Audio® and Orion® brand names. DEI Holdings markets its broad portfolio of products through many channels including leading national retailers and specialty chains throughout North America and around the world. Founded in 1982, the company has operations in California, Maryland, Canada, Europe and Asia.
DEI Holdings companies consist of Directed Electronics and Directed Canada, Polk Audio and Definitive Technology. For more information, please visit www.deiholdings.com.
Copyright © 2009 DEI Holdings, Inc. All rights reserved.
SOURCE: Directed Electronics
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