Logitech Nominates Two New Directors to Board; Proposes 10% Annual Increase for FY17 Dividend
Company Outlines Board-Approved Proposals in Anticipation of AGM on September 12, 2017
Logitech International (SIX: LOGN) (Nasdaq: LOGI) today announced that its board of directors will ask shareholders to approve
the election to the board of Wendy Becker, former chief executive officer of Jack Wills Ltd., and Neela Montgomery, a member of the
executive board at the Otto Group GmbH and soon-to-be chief executive officer of Crate and Barrel. The election will take place at
Logitech's annual general meeting (AGM) in Lausanne, Switzerland on September 12, 2017.
Guerrino De Luca, chairman of Logitech, commented: "Both Wendy and Neela bring a special mix of experience to Logitech’s board,
invaluable to our company as we continue on our path of profitable growth. Wendy has a strong background in strategy, brand
marketing and design from her senior roles at Jack Wills, Vodafone, McKinsey and TalkTalk, as well as diverse board and trustee
positions. Neela’s leadership experience in multi-channel retail, e-commerce and home electronics will be equally valuable,
particularly given the global nature of her roles at the Otto Group and Tesco. We have a fantastic team at Logitech, and it’s a
pleasure to nominate these two new board members.”
Additionally, Logitech’s board of directors has approved and proposes an annual dividend for Fiscal Year 2017 of approximately
CHF 0.62 per share* – a 10 percent increase compared to FY 2016 – following its highest level of cash flow from operations in seven
years. The gross aggregate dividend is subject to shareholder approval at Logitech's annual general meeting (AGM) in Lausanne,
Switzerland on September 12, 2017.
If the dividend proposal is approved by shareholders at the Company's AGM, the approximate payment date for the dividend is
expected to be September 27, 2017.
Logitech expects to publish its annual report to shareholders and its invitation for its 2017 annual general meeting in July
2017. The Company also intends to file its preliminary proxy statement, which includes additional information regarding the
nominees and other proposals for the AGM, with the U.S. Securities and Exchange Commission and post it on the Company's website at
http://ir.logitech.com in July 2017.
About Logitech
Logitech designs products that have an everyday place in people's lives, connecting them to the digital experiences they care
about. More than 35 years ago, Logitech started connecting people through computers, and now it’s a multi-brand company designing
products that bring people together through music, gaming, video and computing. Brands of Logitech include Jaybird, Logitech G and Ultimate Ears. Founded in 1981, and headquartered in Lausanne, Switzerland, Logitech International is a Swiss
public company listed on the SIX Swiss Exchange (LOGN) and on the Nasdaq Global Select Market (LOGI). Find Logitech at www.logitech.com, the company blog or @Logitech.
This press release contains forward-looking statements within the meaning of the federal securities laws, including, without
limitation, statements regarding: dividends, the timing of dividend payments, the timing of the AGM, and the timing of various
filings. The forward-looking statements in this release involve risks and uncertainties that could cause Logitech's actual results
and events to differ materially from those anticipated in these forward-looking statements, including, without limitation: if our
product offerings, marketing activities and investment prioritization decisions do not result in the sales, profitability or
profitability growth we expect, or when we expect it; the demand of our customers and our consumers for our products and our
ability to accurately forecast it; if we fail to innovate and develop new products in a timely and cost-effective manner for our
new and existing product categories; if we do not successfully execute on our growth opportunities or our growth opportunities are
more limited than we expect; if sales of PC peripherals are less than we expect; the effect of pricing, product, marketing and
other initiatives by our competitors, and our reaction to them, on our sales, gross margins and profitability; if our products and
marketing strategies fail to separate our products from competitors’ products; if we do not fully realize our goals to lower our
costs and improve our operating leverage; if there is a deterioration of business and economic conditions in one or more of our
sales regions or operating segments, or significant fluctuations in exchange rates; the effect of changes to our effective income
tax rates. A detailed discussion of these and other risks and uncertainties that could cause actual results and events to differ
materially from such forward-looking statements is included in Logitech's periodic filings with the Securities and Exchange
Commission, including our Annual Report on Form 10-K for the fiscal year ended March 31, 2017, available at www.sec.gov, under the caption Risk Factors and elsewhere. Logitech does not undertake any obligation to update
any forward-looking statements to reflect new information or events or circumstances occurring after the date of this press
release.
2017 Logitech, Logicool, Logi and other Logitech marks are owned by Logitech and may be registered. All other trademarks are the
property of their respective owners. For more information about Logitech and its products, visit the company’s website at www.logitech.com.
* Based on the number of shares outstanding as of March 31, 2017. The actual number may change as of the record date.
(LOGIIR)
Logitech International
Ben Lu
Vice President, Investor Relations - USA
510-713-5568
or
Krista Todd
Vice President, External Communications - USA
510-713-5834
or
Ben Starkie
Corporate Communications - Europe
+41 (0) 79-292-3499
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