|
|
Loud Technologies Chairman and CEO Jamie Engen to Step Down; Rodney Olson named as Engen’s successor
WOODINVILLE, Wash., August 15, 2008 – The board of directors of Loud Technologies, (NASDAQ:LTEC), a leading professional audio and music products company, today announced that Jamie Engen is stepping down from his position as chairman and chief executive officer effective immediately. The board has named Rodney Olson as the company’s Chairman and CEO.
“Over the past ten years, Jamie has played a critical role in growing Loud Technologies into the industry leader that it is today. We appreciate his contributions and wish him the best,” said Tom Taylor, the board member who led the search for Engen’s successor. “We are fortunate to have a strong successor to take over the reins and continue our growth efforts.”
Olson joins Loud Technologies after a decade with Cardinal Brands, a Kansas-based $170 million office products company, where he has served as CFO, president and, most recently, CEO for the past two years. Under Olson’s leadership, the company’s revenues grew 30 percent despite highly competitive market conditions. Prior to his time at Cardinal Brands, Olson served as CFO at Sabreliner Corporation, a $250 million aviation company, where he led the company’s M&A activity and was integral in driving revenue and market share growth in the six years he was there.
“Rodney has a proven track record of success over his 20 years of experience in executive positions, and the board is confident he has the skills and expertise needed to lead Loud Technologies into the future,” said Taylor. “His focus will be on integrating our recent acquisition of Martin Audio, while also overseeing sales and marketing to help Loud Technologies and our dealer partners drive our stable of well established brands.”
|
|
