VISTA, Calif., March 20, 2017 /PRNewswire/ -- Jim Minarik, Chairman of DEI Holdings' Board, said, "I have known Bob for nearly twenty years and am very excited to welcome him as Directed's new CEO. Bob's success at building iBiquity and HD Radio technology from its infancy to mainstream adoption and an ultimate sale of the business speaks volumes about his tremendous talent and abilities. We look forward to having Bob lead and grow Directed's industry-leading vehicle security and remote start business, our connected car business with Viper SmartStart and other products, our Usage Based Insurance (UBI) business, as well as develop other exciting new products and services for emerging mobile markets."
Bob's appointment was the culmination of an extensive national search by DEI. Struble will sit on and report directly to the DEI Board and will be based at the Company's Vista, California, headquarters. He will lead a team of over two hundred associates in the United States and Canada.
"I'm honored to take on the leadership of Directed and carry on the incredible legacy built by Jim Minarik and Darrell Issa before him," said Struble. "Directed has some of the most respected brands and leading technology in automotive electronics. The opportunity to take these great businesses forward and add additional growth drivers was incredibly attractive. The broader connected car space is exploding, and Directed will be a major participant. I'm also thrilled to be working closely with Kevin Duffy and his great team at Sound United under the broader DEI umbrella."
Prior to leading iBiquity, Bob managed several technology businesses at Westinghouse and was a strategy consultant at McKinsey and Company. He earned his BS in Engineering from MIT and his MBA at the Harvard Business School.
Headquartered in Southern California, Directed is the largest designer and marketer in North America of consumer-branded vehicle security and remote start systems (sold under Viper®, Clifford®, Python®, Autostart® and other brand names). Directed markets its broad portfolio of products through many channels including leading national retailers and specialty chains throughout North America and around the world. Founded in 1982, the company's primary operations are located in Vista, California, and Quebec, Canada. Directed is a business unit of DEI Holdings, Inc.
About DEI Holdings
DEI Holdings, Inc., is the parent company of some of the most respected brands in the consumer electronics industry. Its Sound United Division is North America's largest designer and marketer of premium audio solutions (sold under the Denon®, Polk Audio®, Marantz®, Definitive Technology®, HEOS®, and Boston Acoustics® brand names). Its Directed Division is the largest North American maker of consumer-branded vehicle security and remote start systems (sold under Viper®, Clifford®, Python®, AutoStart® and other brand names). In 2011, DEI Holdings, Inc. was acquired by Charlesbank Capital Partners.
About Charlesbank Capital Partners
Based in Boston and New York, Charlesbank Capital Partners is a middle-market private equity investment firm managing more than $3.5 billion of capital. Charlesbank focuses on management-led buyouts and growth capital financings, generally investing in companies with enterprise values of $150 million to $1 billion, and also engages in opportunistic credit investments. The firm seeks to partner with strong management teams to build companies with sustainable competitive advantage and excellent prospects for growth. For more information, please visit www.charlesbank.com.
Statements in this news release that are not statements of historical fact include forward-looking statements regarding future events or the future financial performance of the company. We wish to caution you that such statements are just predictions and that actual events or results may differ materially. Forward-looking statements involve a number of risks and uncertainties surrounding competitive and industry conditions, the ability to launch products on time and enable new features sets, market acceptance for the company's products, risks of litigation, technological changes, developing industry standards and other factors related to the company's businesses. The Company reserves all of its rights.
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