The president of the Swiss group Logitech was re-elected on Wednesday by a large majority despite the opposition of Daniel Borel, one of the co-founders of the company, who had proposed an alternative candidate. The American Wendy Becker, 58, obtained 86% of the votes at the annual general meeting of the group’s shareholders, said in a press release this manufacturer of computer accessories and game controllers.
President of Logitech since 2019, the former boss of the British fashion brand Jack Wills, who is also a member of the board of directors of the British pharmaceutical giant GSK and the Japanese group Sony Corporation, has been the target of strong criticism from Daniel Borel for a year. The latter, who participated in the creation of Logitech in 1981, had accused Wendy Becker at the end of the previous general meeting last year, believing among other things that the group should have carried out a restructuring much earlier. He had called for her resignation.
In July this year, the group that manufactures mice, keyboards and video game accessories announced that Wendy Becker intended to stay at the head of the group for another year but that she would not run again in 2025. Daniel Borel, owner of 0.65% of the group’s shares, had nevertheless taken legal action to propose Guy Gecht’s candidacy and demand a vote at the general meeting.
Guy Gecht, also a member of the board of directors and interim CEO from June to December 2023, had himself declined the proposal, Logitech had indicated in the notice of the general meeting. Major shareholder advisory firms such as Glass Lewis and ISS had called for a vote in favor of Wendy Becker. Logitech shares closed the trading day down 4.17% at 73.12 Swiss francs, while the SMI, the leading index of the Swiss stock exchange, fell 1.39%.
