Business as Usual at Bowers & Wilkins
Recent media speculation has suggested that Bowers & Wilkins has come across tumultuous times, with former CEO, Gideon Yu, standing down from his position. Other outlets spitballed that the brand's first foray into multiroom wireless audio had fallen short of sales targets, and cost the company significant investment.
StereoNET spoke with Bowers & Wilkins Australia's National Sales Director, John Martin, who assured the industry that it is “business as usual” for one of the world's leading consumer audio brands.
While it is true that there's change coming to the Worthing, UK brand, it's not the bad news that some would have you believe. As exclusively reported by StereoNET, EVA Automation, the Silicon Valley company that acquired Bowers & Wilkins in 2016 and slipstreamed its wireless technologies into the long-established company – resulting in the now released Formation wireless suite of products – arguably achieved its goal, bringing it into the modern consumer audio era.
The Formation series project is all but complete, and the brand is now in the right place to continue development and trade with a lineup of both traditional and modern products. Bowers & Wilkins will duly, “establish a board which is independent of EVA Automation, although the businesses will continue to co-operate with each other where mutually beneficial.”
The company further adds that, “the recent developments will have no impact on the day-to-day management and direction of Bowers & Wilkins. The brand's stakeholders are actively supporting its activities while it re-focuses its world-class resources on the research and development, manufacture and distribution of premium loudspeakers, audio components and headphones.”
Gideon Yu and Greg Lee are no longer leading Bowers & Wilkins. At the same time, David Duggins has been appointed to the board as sole Independent Director, with Geoff Edwards driving the executive team in assuming responsibility for the day-to-day operation of the business.
This highly experienced management team will ensure stability as the business looks to continue its recent success in the months to come.
Bowers & Wilkins adds that it, “has just enjoyed one of its best-ever sales quarters, has a full order book for its premium 800 Series Diamond loudspeakers and has won multiple awards for many of its newly released products.” This was backed up by John Martin, who told StereoNET that across the country they've enjoyed record sales in February and that demand for both its new range of products and its flagship 800 Series continues to increase.
Now that the time is right, Duggins – who is known for restructuring companies – has been recruited to ensure that Bowers & Wilkins is well-prepared for commercial success for years to come.
Bowers & Wilkins will continue to develop and manufacture world-class audio products, having successfully diversified its product portfolio into new categories over the past decade. The company will continue to evolve its offering as new technologies and opportunities permit. The brand remains committed to maintaining its UK and overseas operations, with the company's headquarters, R&D facility and premium manufacturing remaining in the UK.
For more information, visit Bowers & Wilkins.