178. How Logitech grew profits 4x in 3 years
Before the advent of the iPhone, Logitech was a boring but successful company, making $2 billion per year. They made functional but ugly computer mice at affordable prices. But when the world moved from PC to mobile, its revenues tanked and its future looked bleak. The board knew they had to make a radical change, and hired Bracken Darrell as its CEO. Darrell changed the entire ethos of the company from an engineering led firm to a design led firm. Darrell was Logitech CEO for 10 years. Under his leadership, Logitech expanded into more than 20 new product categories, more than doubled revenue, and achieved a 10x increase in market capitalization. Listen to this episode to learn: What Bracken Darrell did to turn around Logitech's fortunes Where he cut spending and where he increased it Which key hire helped him turn Logitech around How design thinking changed the entire company from the inside Join our January workshop & get Early Bird pricing: Design 2024 to be Your Best Year Yet Resources mentioned in this episode: The Storied Future podcast: The CEO who's designing the future Fast Company: Logitech Quadrupled Its Profits–With One Big Design Idea CRM.org: How Logitech Designed a New Future for Themselves --- Join the Tech for Non-Techies membership and succeed in the Digital Age. Tech for Non-Techies clients Reach senior leadership positions in Big Tech firms Lead digital transformation in established businesses Create tech businesses as non-technical founders Pivot into careers in venture capital We love hearing from our readers and listeners. So if you have questions about the content or working with us, just get in touch on info@techfornontechies.co Say hi to Sophia on Twitter and follow her on LinkedIn. Following us on YouTube, Facebook, Instagram and TikTok will make you smarter.