“One indicator of an enduring company is the
strength of its succession plan,” said company
co-founder Dr. Kao. “Cliff has been instrumental
in establishing Garmin as a global leader in
every market we serve.
I firmly believe that he is equipped to
lead us into the future with skills and
knowledge that encompass the breadth and depth
of the entire business. I am grateful to Cliff
for his years of unselfish service and his
willingness to accept this new role. I am also
pleased with the depth of the executive
management team which will be serving under
Cliff’s leadership.”
Speaking on behalf of the board, Pemble said,
“Min, along with Gary Burrell, aspired to bring
the benefits of GPS technology to the masses.
They succeeded; Garmin is now a
multi-billion dollar company with strong
profits, amazing technologies and a diverse
market strategy that will serve us well in 2013
and beyond.
We cannot adequately express our
gratitude for Min’s enduring vision and
leadership.
As we enter a new era for our company, he
will continue to play a vital role in the
formulation of our business strategy.
We are fortunate to have Min’s ongoing
wisdom and experience as we move forward into
the future.”
Since its inception in 1989, Garmin has
delivered more than 100 million products, most
of them enabled with GPS, far more than any
other navigation provider. The company was
recently chosen as a component in the S&P 500
index, widely used as a benchmark for investors
and a gauge of the overall performance of the
U.S. stock market.
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