Key Takeaways
- Matteo Anversa will join Logitech as CFO and member of the Group Management Team, effective September 1, 2024.
- Anversa brings experience as a public company CFO with a background in engineering and industrial technology, as well as global B2B experience.
- Logitech aims to accelerate its focus on serving enterprise customers and drive shareholder value creation.
- Anversa’s previous experience includes leadership roles at Fiat Chrysler Automobiles, Ferrari, General Electric, and Gentherm.
Topic Summary
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Matteo Anversa will join Logitech International as Chief Financial Officer and member of the Group Management Team, effective September 1, 2024. He will report directly to CEO Hanneke Faber. Anversa brings extensive experience as a public company CFO with a background in engineering and industrial technology, which aligns well with Logitech’s needs.
CEO Hanneke Faber expressed excitement about Anversa joining the leadership team, highlighting his diverse B2B experience and global perspective gained from working in Asia, Europe, and North America. Faber also thanked Meeta Sunderwala, the chief accounting officer, for her role as interim CFO during the transition period.
Anversa expressed enthusiasm about joining Logitech, citing the company’s strong business momentum, innovation-driven culture, and operational discipline. He looks forward to collaborating with the leadership team to execute strategic priorities and drive shareholder value creation.
Prior to joining Logitech, Anversa held CFO and leadership positions at global brands including Fiat Chrysler Automobiles, Ferrari, General Electric, and most recently Gentherm. He holds a degree in Mechanical Engineering from the University of Parma, Italy, and is a dual citizen of the United States and Italy.
Logitech, founded in 1981, is a Swiss public company listed on the SIX Swiss Exchange and Nasdaq Global Select Market. The company designs software-enabled hardware solutions for businesses and individuals, focusing on work, creation, gaming, and streaming. Logitech’s purpose is to extend human potential in work and play while prioritizing benefits for people and the planet.
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Our Thoughts and Commentary
The past year has seen significant changes at one of our favorite companies in the video conferencing space — Logitech.
In June 2023, Bracken Darrell, who served as CEO for over a decade, stepped down. We’ve always respected Bracken for his candid approach and willingness to engage with the industry. However, in recent years, it seemed his focus shifted more towards environmental issues than Logitech’s core products. While this may be a positive shift for some, it left us wondering if his passion for the role had waned.
Just a month later, in July 2023, Scott Wharton, the VP & GM of the B2B division, left Logitech to become the CEO of Tandem PV, a perovskite-based solar panel company (yes – we had to look up what perovskite meant). In many ways, Scott was a driving force behind the company’s highly successful video conferencing division. To be clear, Scott left some extremely talented people behind when he left his GM role. However, his departure was a significant loss, not just for Logitech, but for the video conferencing industry as a whole.
In December 2023, Hanneke Faber joined Logitech as CEO, replacing interim CEO Guy Gecht. Faber came from Unilever, where she built the company’s e-commerce business into a global top-50 standing. Faber is a tenured, field-proven leader, although much of her experience is in consumer goods and e-commerce. Since joining Logitech, Faber has initiated various efficiency and streamlining efforts. On a less favorable note, Faber recently mentioned a concept for a “forever mouse,” implying that Logitech would eventually make customers sign up for a computer mouse subscription. This gives a new meaning to the phrase “pay per click.” This notion drew stark criticism from analysts and the media.
Now, in August 2024, Matteo Anversa joins Logitech as the new CFO. With his engineering background and technology industry experience, Anversa seems like a strong fit for the company. However, his arrival is yet another leadership change for the company.
It’s no secret that we are Logitech fans. We’ve watched Logitech go from an unknown in the collaboration space to one of the leading players and innovators. We also applaud the company’s environment efforts. However, change wreaks havoc on even the best of companies.
Indications are that this new management team has what it takes to make things happen. While we’re hoping for the best, only time will tell.