Uli Behringer seeks board seat at Deswell

WORLD: Music Group chairman and CEO, Uli Behringer, has notified Deswell Industries of his intention to take a seat on the company’s board. Mr Behringer holds ‘a significant portion’ of Deswell stock and has reportedly expressed concern with its performance in recent months.

‘As a substantial shareholder, I'd like to have more input in the strategic focus and direction of the company. Accordingly, I request that the company appoints me to its board of directors,’ stated Mr Behringer. ‘I am a long term holder of Deswell shares and I have the requisite experience and industry knowledge to advise the company as it seeks new avenues for growth and a return to profitability.’

Deswell, with its subsidiaries Kwanasia and Jetcrown, is an OEM manufacturer of consumer industrial products, including electronic products for the pro audio market such as instrument amplifiers and digital audio workstations. The equipment it manufactures is used in sports stadia, concert halls, recording studios, and radio and television stations.

The company has reportedly shown ‘a substantial decline in annual sales and profitability’ as well as ‘a major turnover of key management’ in the recent period. Mr Behringer is requesting that the company calls a special meeting within the next 60 days to consider his appointment.

www.deswell.com
www.jetcrown.com.cn
www.kwanasia.com
www.music-group.com