Bowers & Wilkins CEO resigns, restructuring expert appointed
https://www.whathifi.com/us/news/bow...pert-appointed
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https://www.channelnews.com.au/bw-fa...o-restructure/
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I have no info on this particular situation, but as a private equity investor, I've seen this movie before--Yu persuaded his investors that they should pay a premium for B&W because the Formation series would bring hifi back to the golden days of decades past, marrying digital convenience with uncompromising sound, and thus transforming a boutique supplier to high end mass market provider--$$$. Alas, it was not so easy--revenue targets missed by a mile, and now the investors are wondering why they didn't license the technology broadly a'la Roon. So they boot the passionate guys, and hire someone strictly focused on the bottom line. Don't expect a flood of new products in 2021 from Worthing. Sad
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Why not stay focused on what they were good at......audiophile reproduction of music via sources? A once leading company is now a possible fire sale waiting to happen. Maybe George Lucas can step in and become a majority owner.
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Because that's not how these boneheads think. They think they're infinitely smarter than the consumer - they aren't.
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Hopefully the "finance" guy they bring in to hit the numbers won't ruin the company as they so often do ...
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sad
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