VOXX International Corporation Nominates Stan Glasgow to Stand for Election to
Board of Directors at 2013 Annual Meeting of Shareholders
HAUPPAUGE, N.Y., April 8, 2013
HAUPPAUGE, N.Y., April 8, 2013 /PRNewswire/ --VOXX International Corporation
(NASDAQ: VOXX) announced today that, on March 22, 2013, its Board of Directors
nominated Stan Glasgow, former Chairman of Sony Electronics Inc. for election
to the Company's Board of Directors at the Annual Meeting of Shareholders,
scheduled to be held in July 2013. If elected, Mr. Glasgow is expected to
serve on the Audit and Compensation committees.
Mr. Glasgow has over 40 years of global consumer electronics, display
technology and computer industry-related experience. He worked for Sony
Electronics from 2001 to 2012 including two years as Chairman, and four years
as President, and last served as Senior Advisor to the Entrepreneurship &
Innovation Group of Sony Corporation of America.
Prior to joining Sony Electronics in 2001, Mr. Glasgow was owner and President
of Capetech Sales Inc., a California-based company, which had annual sales in
excess of $500 million and sold display products and provided consulting
services to electronics companies in Asia. Prior to that, Mr. Glasgow was
Chief Operating Officer and President of Capetronic Computer Products, a Hong
Kong-based public display manufacturing and engineering company with factories
in Taiwan, Thailand, China and the United States. Mr. Glasgow has also held
various management, sales, engineering and manufacturing positions at GTE
Corporation and BorgWarner, Inc., including managing the television and stereo
manufacturing facilities for GTE Sylvania in Asia.
Mr. Glasgow has served as a Member of the Executive Board of the Consumer
Electronics Association. He is a member of the Dean's Advisory Council of the
Rady School of Management at the University of California, San Diego and is a
Director of the San Diego Telecom Council.
Commenting on the announcement, John Shalam, Chairman stated, "We first met
Stan several years ago when he was serving on the Executive Board of the CEA.
He is a proven and respected leader in the consumer electronics industry, and
both I and the VOXX International Board of Directors believe he will be a
tremendous addition to our organization. It is with great pleasure we announce
today, that he will be standing for election at our upcoming Annual
Shalam continued, "I would also like to thank Philip Christopher and Dennis
McManus for their invaluable council and leadership and wish them nothing but
continued success. Both played a large role in shaping our strategic
direction throughout the years, most notably during our expansion in wireless
communications given their backgrounds. Since our divestiture of Cellular in
December 2004, we've made ten acquisitions and our business is now more
aligned with consumer markets – be it in accessories, premium audio and
automotive. We believe Stan's background, relationships and expertise makes
him a perfect fit as an independent Director for VOXX and we look forward to
welcoming him to our Board, pending shareholder approval."
About VOXX International Corporation
VOXX International Corporation (NASDAQ:VOXX) is the new name for Audiovox
Corporation, a company that was formed over 45 years ago as Audiovox that has
grown into a worldwide leader in many automotive and consumer electronics and
accessories categories, as well as premium high-end audio. Through its wholly
owned subsidiaries, VOXX International proudly is recognized as the #1 premium
loudspeaker company in the world, and has #1 market positions in automotive
video entertainment and remote starts, digital TV tuners and digital antennas.
The Company's brands also hold #1 market share for TV remote controls and
reception products and leading market positions across a wide-spectrum of
other consumer and automotive segments.
Today, VOXX International is a global company ... with an extensive
distribution network that includes power retailers, mass merchandisers,
12-volt specialists and most of the world's leading automotive
manufacturers.The company has an international footprint in Europe, Asia,
Mexico and South America, and a growing portfolio, which is now comprised of
over 30 trusted brands. Among the key domestic brands include Klipsch®, RCA®,
Invision®, Jensen®, Audiovox®, Terk®, Acoustic Research®, Advent®, Code
Alarm®, CarLink®, Excalibur® and Prestige®. International brands include
Hirschmann®, Klipsch®, Jamo®, Energy®, Mirage®, Mac Audio®, Magnat®, Heco®,
Schwaiger®, Oehlbach® and Incaar™. The Company continues to drive innovation
throughout all of its subsidiaries, and maintains its commitment to exceeding
the needs of the consumers it serves. For additional information, please visit
our Web site at www.voxxintl.com.
Safe Harbor Statement
Except for historical information contained herein, statements made in this
release that would constitute forward-looking statements may involve certain
risks and uncertainties. All forward-looking statements made in this release
are based on currently available information and the Company assumes no
responsibility to update any such forward-looking statement. The following
factors, among others, may cause actual results to differ materially from the
results suggested in the forward-looking statements. The factors include, but
are not limited to risks that may result from changes in the Company's
business operations; our ability to keep pace with technological advances;
significant competition in the automotive, premium audio and consumer
accessories businesses; our relationships with key suppliers and customers;
quality and consumer acceptance of newly introduced products; market
volatility; non-availability of product; excess inventory; price and product
competition; new product introductions; foreign currency fluctuations and
concerns regarding the European debt crisis; restrictive debt covenants; the
possibility that the review of our prior filings by the SEC may result in
changes to our financial statements; and the possibility that stockholders or
regulatory authorities may initiate proceedings against VOXX International
Corporation and/or our officers and directors as a result of any restatements.
Risk factors associated with our business, including some of the facts set
forth herein, are detailed in the Company's Form 10-K for the fiscal year
ended February 29, 2012.
SOURCE VOXX International Corporation
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