Camille Jayne Named Chief Executive Officer of Universal Electronics.CYPRESS, Calif.--(BUSINESS WIRE)--Aug. 12, 1998--Universal Electronics, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :UEIC UEIC Universal Electronics Inc. (stock symbol) UEIC United East India Company UEIC Unplanned Event Information Center ) today announced that Camille Jayne has assumed the responsibilities of Chief Executive Officer, in addition to the position of President. David M. Gabrielsen, the Company's Chairman, has relinquished re·lin·quish tr.v. re·lin·quished, re·lin·quish·ing, re·lin·quish·es 1. To retire from; give up or abandon. 2. To put aside or desist from (something practiced, professed, or intended). 3. his position as Chief Executive Officer. Mr. Gabrielsen, 41, joined Universal Electronics in December 1994 as Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. to return the Company to profitability. In 1994 Universal Electronics lost nearly $13 million, or $1.91 per share, on sales of $95.9 million. Excluding extraordinary charges, the Company has achieved four consecutive quarters of either record sales or earnings, or both. "With the turnaround now complete, Universal Electronics is well positioned for future growth and profitability," stated Mr. Gabrielsen. "Camille Jayne is well prepared to take on her new responsibilities because of her broad experience and successful track record in the cable television industry, along with the knowledge of Universal Electronics that she has acquired over the past eight months." Ms. Jayne, 45, prior to joining Universal Electronics, served as the President and Chief Executive Officer of the Jayne Group, a consulting firm Noun 1. consulting firm - a firm of experts providing professional advice to an organization for a fee consulting company business firm, firm, house - the members of a business organization that owns or operates one or more establishments; "he worked for a that specialized in the development, introduction and operation of digital cable television products and services, and as a Senior Partner at BHC BHC benzene hexachloride. BHC, ?-BHC see benzene hexachloride. Consulting, a business management and market research firm. In addition to her consulting experience, Ms. Jayne has an extensive background from her work at Tele-Communications, Inc. and Ameritech in product development in digital television technology and electronic and interactive services. "I believe we have established a results-oriented business plan, and we are building a management team so that Universal Electronics can begin to achieve an acceleration in financial growth," commented Ms. Jayne. Universal Electronics, Inc. develops, manufactures, and markets preprogrammed, easy-to-use universal remote controls principally for home video and audio entertainment equipment. The Company sells its proprietary technologies and products to original equipment manufacturers, companies involved in the subscription broadcasting industry and private label customers. The Company also sells its remote control products to retailers in Europe, Asia, South America South America, fourth largest continent (1991 est. pop. 299,150,000), c.6,880,000 sq mi (17,819,000 sq km), the southern of the two continents of the Western Hemisphere. and Australia under the One For All(R) brand name. Statement under the Private Securities Litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. Act of 1995: This release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. , which represent challenging goals for the Company in that they are subject to certain risks and uncertainties that may cause actual results to differ materially from those projected in such statements. Certain forward-looking statements contained in this press release include, but are not limited to, information regarding the future economic performance and financial condition of the Company, the plans and objectives of the Company's management, and the Company's assumptions regarding such performance and plans.
CONTACT: Universal Electronics, Inc., Cypress
David M. Gabrielsen, 714/820-1000
|
|
||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion