Garmin announced today that current President and Chief Operating Officer Clifton Pemble will succeed Garmin founder Dr. Min Kao as president and CEO. The appointment of Pemble as Garmin CEO becomes effective Jan. 1.
Kao, a co-founder of Garmin, will remain with the company as executive chairman. In this new role, Kao is expected to provide strategic guidance and business development support to the satellite navigation company.
Pemble joined Garmin in 1989, shortly after Garmin was founded, as one of its first engineers. He has been serving as president and COO since October 2007. According to Kao, "One indicator of an enduring company is the strength of its succession plan." Kao added, "Cliff has been instrumental in establishing Garmin as a global leader in every market we serve."
The article Garmin COO to Become CEO originally appeared on Fool.com.
Tim Brugger has no positions in the stocks mentioned above. The Motley Fool has no positions in the stocks mentioned above. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.