Polk Audio Announces Senior Management Changes

BALTIMORE, Dec. 19 /PRNewswire-FirstCall/ -- Polk Audio, an operating unit of DEI Holdings, Inc. (Nasdaq: DEIX), today announced that its President, Jim Herd, will retire at the end of the year, leading to a realignment of its senior management team.

"After a total of 30 years in the loudspeaker industry, including 16 years here at Polk Audio, I am fortunate enough to be able to retire and attend to more personal interests," said Mr. Herd.

Jim Minarik, President and CEO of DEI Holdings, Inc. and Polk's Chairman, commented, "We thank Jim for his contributions and dedication to our Company and wish him well. While we will all miss him, we have an extremely strong team of professional managers at Polk, and we are structuring our go-forward organization to take maximum advantage of the combined 200+ years of specific audio industry experience held by the top 10 members of Polk's continuing management team."

Specifically, after the realignment, Polk Audio will be structured under the following three primary areas: Marketing, Sales, and Product Line Management will report to Ben Newhall, VP of Sales; Engineering, Project Management, and Purchasing will report to Jeff Nemec, VP of New Product Development; & Operations and Finance will report to Joe Tristani, COO. This group of Polk Audio's senior executives will in turn report to Jim Minarik, who is assuming the additional role of President and CEO of Polk Audio, upon Mr. Herd's retirement.

"The opportunity to advance the careers of some very talented and deserving long-time Polk Audio executives will have a positive effect on the energy in our organization, and help the Company to better navigate the current marketplace," said Mr. Herd. "Jeff, Joe, and Ben are three of the most accomplished leaders in the audio industry. Moving them into these top-level roles makes the most sense, not only because of their commitment and talents, but also to ensure cultural continuity."

In addition to changes at the senior management level, Mark Suskind has been promoted to the position of VP of Product Line Management. Mr. Suskind, who moves into his new role after 13 years as Product Line Manager, will oversee all aspects of Polk's product line portfolio, including conception and planning. He will report to Mr. Newhall.