Harman Kardon 2007 Annual Report Download - page 6

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three-stage business cycle. We have the energy and
the critical mass which characterize a global
leader, and we are determined to continue to
create value for our shareholders.
As we fine tune our business and its processes,
I am gratified to have the support of Dinesh
Paliwal as Chief Executive Officer. The CEO
search and transition were significant distrac-
tions, but we have concluded the process with the
selection of a world-class global executive.
Because of my great confidence in Dinesh, I have
proposed, and our Board of Directors has
agreed, that effective at our December 17, 2007
Annual Meeting, I will take the title of
Chairman. In that note, I look forward to a long
and close working relationship with our Chief
Executive Officer.
Our company enters 2008 poised to capitalize on
its deep experience in each of our business
segments. Our Consumer division will benefit
from the ground-breaking technology we have
developed in our OEM operations over the years.
The long-awaited age of seamless connectivity is
arriving, and we have the tools and the determina-
tion to lead it. Our software prowess carries the
promise of new market leadership, increased
margins and new revenue streams.
Harman’s automotive business will continue to
grow as we build on our strong position in the
premium markets and move further into the
mid-range and entry-level vehicle segments. We
expect that the shorter R&D and launch cycles
that characterize this segment will tend to offset
lower margins.
4 Harman International 2007 Annual Report
Harman amplifiers, sound processors and speakers deliver the
audio action as the 2006 World Series of baseball opens at Busch
Stadium in St. Louis.
The Harman Entertainment Lounge
™
provides leading retailers with
proven, modular solutions for merchandising of high-definition audio
and infotainment products.
As lifestyles evolve around the world, so will the demand grow for
high-fidelity music, theater and sports.