Directed Electronics parent company, DEI Holdings Inc., announced that its Chairman and CEO, Jim Minarik will retire on or before July 1.
He will continue as Chairman of DEI’s Board of Directors.
No replacement has been announced.
Minarik joined DEI as CEO in 2000 when now Congressman Darrell Issa sold the business. Minarik had previously been CEO of Clarion Corporation and he started his career at Altec Lansing Consumer Products.
Under Minarik’s leadership, Directed/DEI grew from being exclusively a car security company to a diversified consumer electronics business.
Directed said it holds the number one market share in both car security and remote start through Viper, Clifford and Autostart brands. .
Under Minarik, the company bought home theater speakers brands Definitive Technology and Polk Audio,as well as in car audio brands Autostart, Astroflex, Directed Canada. It also purchased Trilogix and Designtech International. It also became the exclusive hardware partner for Sirius Satellite Radio from 2004-2008, went public in 2005 on the NASDAQ, and then became private again in 2011 when it was principally acquired by Charlesbank Capital Partners, a $2 billion private equity fund based in Boston.
“I’ve been privileged to lead one of the greatest teams and companies in the CE business over the past 15 years, but it’s time to transfer DEI’s helm to a new generation of leadership,” said Minarik. “I look forward to working with the board and management team during the transition period and to then continue as non-executive Chairman, being available as an advisor.”
For more information visit http://www.deiholdings.com & http://www.charlesbank.com
