ZURICH (Reuters)

Logitech International founder Daniel Borel on Wednesday failed in his attempt to oust Chairperson Wendy Becker, accusing her of failing to provide leadership at the computer mouse and keyboard manufacturer.

Just under 86% of shareholders voted for Becker’s re-election at the company’s annual general meeting in Lausanne, contrary to Borel’s wishes, who wanted board member Guy Gecht to replace her.

Gecht, who stated he would not accept the chairperson role if elected, received support from 14% of shareholders.

Borel, one of the three founders of Logitech (NASDAQ:LOGI) in 1981, holds a 1.2% stake and expressed concerns that the Swiss-American company had not adapted quickly enough to trends such as artificial intelligence and the post-pandemic environment.

He criticized the leadership team, which includes Becker, a former boss at British clothing manufacturer Jack Wills, and CEO Hanneke Faber, an ex-Unilever executive, for lacking technological experience.

Logitech recently returned to sales growth after nine consecutive quarters of declines following the pandemic-driven boom.

“After the mad years of Covid, the company has simply been relying on past successes,” Borel stated. “It lacks leadership capable of facing the extreme challenges ahead – particularly artificial intelligence. The current duo running Logitech have no tech experience. It’s a dangerous situation.”

Becker, who has served as chairperson since 2019, indicated she will step down at next year’s AGM. Borel argued that such a lengthy transition period “makes no sense in the fast-paced world of technology.”