Logitech CEO wants to double business by 2031
Published: Tuesday, Jul 30th 2024, 15:40
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Hanneke Faber has been at the helm of Logitech for seven months as the successor to Bracken Darrell. The manager has apparently settled in well, as she said in an interview with the US technology portal "The Verge" on Monday.
Working in a global company like Logitech is not always easy. "Today is my first day in the office in California. So far I've been in Switzerland, so you're basically catching me on my first day at work," said the manager of the French-speaking Swiss company in the interview. She feels like she spends a large part of her life on airplanes.
Faber has ambitious plans for Logitech: "For 2031, when Logitech turns 50, we have set ourselves the goal of doubling the business and reducing our environmental footprint by 50 percent while maintaining really attractive margins," said Faber. She described hybrid work, games and artificial intelligence (AI) as the most important growth drivers for the technology company.
Focus on growth and sustainability
To achieve these goals, Faber has made significant organizational changes. It has streamlined the structure of the company, halved the number of direct reports and is concentrating its efforts on three main business areas: Personal Workspace, Gaming and Enterprise Solutions.
The manager is also consolidating Logitech's brand strategy. She is focusing on the core brand, which currently accounts for 97 percent of sales. "We will build a fantastic, iconic Logitech brand, and that is our focus," Faber explained.
A mouse forever
The CEO also presented the concept of a "Forever Mouse" - a high-quality, software-enabled device that can be constantly updated and could open up new revenue streams through subscription models. According to Faber, this is in line with Logitech's increased focus on software and services, particularly in the B2B business.
In terms of the growing importance of AI, the executive noted that Logitech is integrating AI features into its products, such as the AI Prompt Builder in its software. "We are starting to be an interface to the big language models," she said, positioning Logitech at the forefront of human-AI interaction.
The future belongs to human-technology interfaces
Looking ahead, Faber is confident that Logitech will be able to adapt to evolving technological paradigms. "I think the future for human-technology interfaces is very, very bright," she concluded, reaffirming Logitech's commitment to innovation in an increasingly AI-driven technology landscape.
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