Garmin Announces Transition Plan
Garmin Ltd. (Nasdaq: GRMN) today announced that effective January 1, 2013 the board of directors has appointed Clifton Pemble to the position of president and CEO, succeeding co-founder, Dr. Min Kao. Pemble, who joined Garmin in 1989 as one of the company’s first engineers, has been serving as president and chief operating officer since October 2007, and has been a member of the Garmin Ltd. board of directors since August 2004. Dr. Kao will assume the role of executive chairman, where he will continue to serve as the chairman of the board of directors while also providing ongoing support to the company’s strategic planning and business development processes.
This is the sort of thing public companies due to keep investors informed and confident. It's not done as frequently in public companies.