Mark Graham Succeeds Rodney Olson as CEO
Audio industry veteran to lead next-phase growth efforts
WOODINVILLE, WA – October 13, 2010 – – 20-year audio industry veteran Mark Graham, formerly President of Crown International, today joined LOUD Technologies Inc. (“LOUD”) as CEO. Graham succeeds Rodney Olson, who over his 2-year tenure as CEO successfully steered LOUD through supply chain disruptions and the worldwide economic downturn.
“I’m immensely proud of LOUD management’s achievements over the past two years,” commented Olson. “We simplified the Company’s organizational structure and brand portfolio; restored stability and added capacity to our supply chain; and solidified the Ampeg, EAW, Mackie, and Martin Audio brands’ leadership positions through significant new product launches. Thanks to those efforts, LOUD is now well positioned for growth as the world economy recovers.”
“As both a former competitor, as well as audio industry veteran, I’ve closely followed LOUD’s moves over the years and have great admiration for the Company’s brands and their lauded market positions,” commented Graham. “I look forward to joining the LOUD management team and working with them to build on the solid momentum they have begun. It is truly exciting to be joining the LOUD team which has such great potential to deliver compelling and innovative new products and solutions to our customers.”
Graham will relocate to the Company’s Woodinville, WA USA headquarters and will work with Olson and LOUD’s management team on transition plans over the ensuing weeks.
About LOUD Technologies Inc.
LOUD Technologies Inc. (NasdaqCM: LTEC) is one of the largest manufacturers and marketers of professional audio and music products. As the corporate parent for world‑recognized brands including Alvarez, Ampeg, Crate, EAW, Mackie, Martin Audio and TAPCO, LOUD produces a wide range of digital recording products, loudspeakers, commercial audio systems, audio and music software, guitars, guitar and bass amplifiers and orchestral string instruments. LOUD’s brands may be found in professional and project recording studios, video and broadcast suites, post-production facilities, sound reinforcement applications including churches, nightclubs and retail locations, and on major musical tours. For more information, please see our website: www.loudtechinc.com.
This press release contains statements that are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations, estimates and projections about the Company's business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors, including those described above and the following: changes in demand for the Company's products, product mix, the timing of customer orders and deliveries, the impact of competitive products and pricing, constraints on supplies of critical components, excess or shortage of production capacity, difficulties encountered in the integration of acquired businesses and other risks discussed from time to time in the Company's Securities and Exchange Commission filings and reports. In addition, such statements could be affected by general industry and market conditions and growth rates, and general domestic and international economic conditions. Such forward-looking statements speak only as of the date on which they are made, and the Company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this release.
For more information please contact: LOUD Technologies Inc. – 16220 Wood-Red Road N.E. – Woodinville, WA 98072 – Phone: (425) 487-4333 – Fax: (425) 487-4337 – Internet: www.loudtechinc.com.