Harman International’s founder and chairman, Dr. Sidney Harman, will retire from the board of directors when his current term expires on Dec. 3, 2008. He has recommended and the board has elected Dinesh C. Paliwal to the post of chairman and CEO beginning July 1, 2008. Mr. Paliwal has served as president, CEO and VP since joining the company in July 2007.
Harman International includes many major audio brands. In the pro audio marketplace, Harman brands include JBL, AKG, BSS, Crown, dbx, Lexicon, Soundcraft and Studer. Harman co-founded the business that bears his name in 1953. “I recruited Dinesh Paliwal to become our CEO with high expectations, and he has validated my confidence by bringing remarkable energy and expertise to the company. As I approach my 90th birthday, it is clearly a very good time to endorse Dinesh’s leadership and his outstanding team. I am confident that they will honor the company’s rich history and work effectively to build its future,” he said.
Harman also announced that he will contribute $2.5 million to a new Sidney Harman Scholarship Fund to benefit continuing education by children and grandchildren of long-term company employees.
For more information, visit www.harman.com.