Navico, leader in marine electronics today announced a change at the helm with Jens-Thomas Pietralla resigning from his position as President & CEO effective June 1 and joining the company's Board as a non-executive Director. He will be succeeded by Leif Ottosson, EVP and Chief Operating Officer Europe, Middle East and Africa (COO EMEA) who will combine the CEO role with the continued leadership for the EMEA region.
Pietralla joined Navico in September 2006 as CEO-elect and took over from Darrell Lowrance in January 2007. During his time as CEO, the company has mastered an impressive integration and restructuring process, established global processes and routines and more recently has taken the necessary steps to weather the storm of the economic downturn. Pietralla also significantly strengthened the company leadership with top talent from within and outside the marine industry, leaving Navico in an excellent position to overcome future challenges.
Following the successful integration, right-sizing and establishment of strong regions from 2006 to 2009 the company has taken the last step to simplify its structure by combining the EMEA management with the Navico Group leadership. The task at hand shifts from strategic transformation to efficient execution, requiring a slightly different leadership profile. In this context, Pietralla has handed the helm over to Ottosson, who is well qualified to lead the company through the coming years.
Reflecting on his time with Navico, outgoing-CEO Pietralla says: "Integrating three marine electronics companies with seven brands and almost as many business cultures based in 12 countries in eight time zones on three continents into one Navico house of brands has proven to be a huge undertaking. Almost three years later, we can declare victory in this battle - we are one company, we share one set of values, we are meeting our key performance targets and are proud of the great new products we have been able to launch together. With this assignment successfully completed and after a rewarding professional journey with Navico, I know that the future of the company will rest in very capable hands. My role on the Board will allow me to stay close and continue my support for what we started together."
Leif Ottosson brings an impressive depth of experience from strategic, financial and operational roles in a variety of industries to his new assignment: He holds a BSc (magna cum laude) in Finance and Mathematics from Northern Arizona University and an MBA from Harvard University. His role as Navico EMEA COO has given him valuable insights into the marine industry and Navico. For 12 years prior to joining Navico Ottosson worked as an entrepreneur and successfully built three companies within manufacturing, software and consulting. Earlier, Ottosson was a board member and the CFO of a large UK-based metals-and-minerals company and the Head of Finance of Skanska, a major global construction company.
"On behalf of the Board and the Owners, I like to express my sincere thanks to Jens-Thomas for doing an excellent job of integrating the company and positioning Navico for success. We want to leverage his experience to benefit Navico going forward and are grateful that he has accepted our invitation to serve on the company's Board of Directors. In addition, the Board is also very pleased to have someone of Leif Ottosson's calibre move into the CEO role," says Hugo Maurstad, Chairman Navico Board of Directors.
"I am excited to take on the role of CEO for Navico as we enter a new phase with intense operational focus. I enjoy working with the great people in Navico and am proud to represent our excellent product line up which delivers outstanding performance through ease of use, seamless integration and suitability for all vessel sizes. Despite the tough market conditions I foresee a bright future ahead for Navico and every month passing by is one month closer to a market rebound," says Leif Ottosson, Navico President and CEO.
Leif Ottosson will be based in Dordrecht in the Netherlands.
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About Navico
Navico is the parent company to five well-established marine electronics brands: B&G, Eagle, Lowrance, Northstar and Simrad. Navico has approx 2,500 employees globally and is headquartered in Oslo, Norway. The company has development and manufacturing facilities in Tulsa, Oklahoma, Acton, Massachusetts, Torrance, California USA; Ensenada, Mexico; Egersund, Norway; Støvring, Denmark; Romsey, UK; and Auckland, New Zealand.