Coby Electronics Corporation Realigns Executive Team to Drive Corporate Growth and Fortify Global Brand NamePRESS RELEASE | 2010-06-21 | Coby Electronics Corp.
Lake Success, NY, June 21, 2010 - Coby Electronics Corporation, the lifestyle CE leader that has achieved impressive worldwide growth both in product sales and brand awareness since its founding in 1990, is positioning itself for dynamic growth. With an invigorated corporate structure that elevates President and Founder Young Dong Lee to Chief Executive Officer, and Senior Vice President Sam Oh to Chief Operating Officer, CE industry expert Michael Troetti has joined the company as President.
"Coby has made great strides entering new markets and product categories and achieving robust sales even in a recessionary climate," said Mr. Lee. "The new structure of our executive leadership is part of our long-term strategic vision to ensure solid, broad-based growth well into the future."
"Michael Troetti is a talented executive and tactical thinker who will contribute in very real and important ways to Coby's growth and prominence in the CE industry," said Mr. Oh. "We're very pleased to have him on board at Coby and we look forward to his contributions driving product development and sales."
"I'm very excited to join Coby and help lead the company to achieve the next level in its growth trajectory," said Mr. Troetti. "Coby has a terrific team of highly-dedicated professionals that I'm proud to be a part of, and I look forward to enhancing the COBY® brand name among consumers."
In his new role as CEO, Mr. Lee will focus on reinforcing and expanding Coby's operational efficiencies, grow overall worldwide business and cement the company's status as a formidable global player in the CE industry.
As COO, Mr. Oh will concentrate on executing the company's long-range product and technology development strategy by identifying future designs and trends.
Coby achieved an impressive "Top 10" sales ranking in eight of the leading CE categories, including Video MP3 Players, Digital Photo Frames, Portable DVD Players, Stereo Headphones and DVD Players, according to the latest data from The NPD Group. Last fall, Coby entered into the booming digital camcorder arena with the introduction of its COBY SNAPP™ line of portable, pocket-sized handheld units. It quickly became a leader in the category with its selection of units all priced under $100.
Mr. Troetti joins the Coby Electronics Corporation team with nearly 30 years of CE industry sales and marketing experience, most recently as President of SHARP Electronics Marketing Company of America. Before that, Mr. Troetti was President of Panasonic's Home and Commercial Products Company. A veteran at Panasonic for 23 years, Mr. Troetti rose through the ranks, setting new standards for excellence with each new position he assumed. Now, as Coby's new President, Mr. Troetti will help establish long-range goals and strategies for the company's continuous growth and assure their implementation and success. Mr. Troetti will report directly to Mr. Oh and Mr. Lee.
Under the new corporate structure, a number of executives will now report to Mr. Troetti, including Vice President of Sales, Joe Giametta, who has been a core part of Coby for nearly six years; and Senior Marketing Manager Michael Paladino, who joined the company in 2009 and has been instrumental in leading the company's brand marketing and product development programs. Also reporting to Mr. Troetti will be Vice President of Finance, Raymond Kim; Controller and Director of Global Planning, Jones Kim; Director of Operations and Global Credit, Daniel Song; Director of Global Human Resources, Charles J. Alaimo; Purchasing Manager, John Fletcher; and General Counsel, Vincent Castiglione.
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