Corrected: JVC and Kenwood will merge more of their operations and become a new U.S. company called JVC Kenwood USA Corporation.
While JVC and Kenwood have officially merged in Japan and most regions of the world, they had remained separate subsidiaries of JVC Kenwood in the U.S. As of October 1, however, they officially join.
The company will also soon begin merging accounting departments integrating accounting systems, information technology systems, sales invoicing and “pricing structures.”
The news was delivered in a memo to employees this week, which said the new JVC Kenwood USA Corporation “may capitalize on the strengths of both the JVC and Kenwood brands in the marketplace.” It also said more details on the merger will be announced shortly.
The memo said, “The goal is to improve the overall health and future prosperity of the combined companies by sharing resources, reducing expenses, and blending best practices in all business areas…”
There have already been many moves to begin joining the two subsidiaries. A year ago both companies were brought under a single roof and began sharing warehousing and customer services.
JVC Kenwood continues to undergo shifts in management. This week Karl Bearnarth, Senior VP Marketing reportedly left JVC after 19 years with the company. Also recently, Rob Voorhies, JVC manager of national accounts of JVC Mobile left recently to take a post with accessories supplier Nyne. Chad Vogelsong, former GM Marketing of JVC Mobile, left in September to join Harman as Product Strategy Planning Manager, and Keith Lehmann, formerly Kenwood Executive VP of CE and JVC Mobile Senior VP left the company in December. Also, Bill Turner VP of JVC Mobile left last May to become Harman’s VP and GM, Global Automotive Audio Aftermarket.
In Japan, JVC and Kenwood corporations merged in 2008 to become JVC Kenwood Holdings, but in the U.S. the JVC and Kenwood subsidiaries continued to operate separately until now.
Addition: JVC Kenwood said in a press release late Monday, “JVC and Kenwood products will remain as two distinct brands in their respective user markets and sales channels. This integration continues JVC Kenwood Corporation’s worldwide process that will result in a more efficient organization and further elevate the equity of the JVC and Kenwood brands.”
Source: CEoutlook
