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4 Logitech Annual Report 08
To Our Shareholders,
Partners and Employees
Nearly 9,400 people around the world, $2.4 billion in
revenue, a member of the NASDAQ-100 Index—this is
Logitech today.
We have had a unique adventure that was never anticipated
by the team that founded the company on October 2, 1981
—in a Swiss farm in Apples, a small village (our version of
the California garage). During the past 26+ years, thanks to
the talent of the people who joined us, we have become a
leader in peripherals for the PC and other platforms, build-
ing a brand recognized by millions around the world.
More than once the waters have been very rough. Yet,
each time, our dedicated people have fought as a team
and refused to give up. From the outset, we have faced
the challenges of global complexity, intense competition
and a fast-changing environment, where success is never
fi nal. We have often reinvented ourselves. And we have
often been lucky. But mostly it has been the dedication and
the smart work of our people and our passion for innova-
tion that have enabled us to successfully surf the PC and
Internet waves. And as the digital world becomes ever more
pervasive, our future is even more promising as we position
Logitech to make the most of the new opportunities.
Hence, Fiscal Year 2008 was a perfect time to prepare our-
selves for a new era of challenge and success by transition-
ing our leadership team in a way that preserves continuity.
Ten years ago I was fortunate to hire Guerrino De Luca as
our CEO. We have enjoyed years of great successes, with
a shared dream and vision. On January 1, 2008, I was
most happy to hand over my role of Chairman to Guerrino.
I trust that Guerrino and Jerry will keep building on this
Chairman/CEO partnership model, ensuring continuity
where it makes sense, while driving change where needed.
The fundamentals are solid, and I am confi dent that
Logitech is destined to keep developing and growing
successfully.
I wish to thank our shareholders for your trust and support
along this journey.
I also want to deeply thank all our employees, customers
and partners around the world for your contributions to
our success.
This is just the beginning!
Yours sincerely,
Daniel Borel
Co-founder and Member of the Board