Logitech Nominates New Chairperson, Directors; Proposes Dividend Hike

(RTTNews) - Swiss computer accessories maker Logitech International SA (LOGI) on Wednesday announced a number of proposals, including the election of Wendy Becker as new chairperson of the Board following the 2019 annual general meeting.

The election of new chairperson follows a decision by Guerrino De Luca not to stand for re-election as chairperson when his current term ends. De Luca will remain on the board, subject to his re-election as a member of the board.

Further, the company proposed to elect to the board Guy Gecht, former chief executive officer of Electronics for Imaging Inc., and Michael Polk, former president and chief executive officer of Newell Brands Inc.

The company also proposed a 10 percent annual increase for Logitech's fiscal 2019 dividend to approximately 0.73 Swiss francs per share. The approximate payment date for the dividend is expected to be September 20.

The proposals have been approved by its board of directors, on which it will ask shareholders to vote at the upcoming AGM on September 4.

Among board members, Lung Yeh has decided not to stand for re-election to the board when his current term ends. Logitech earlier announced that Dimitri Panayotopoulos, a non-executive member of Logitech's board, had resigned for personal reasons, effective immediately.