Turtle Beach Corporation Announces Planned Retirement of CFO John Hanson
Turtle Beach (Nasdaq: HEAR) has announced the planned retirement of CFO John Hanson after an 11-year tenure. The company has engaged Korn Ferry to assist in finding a successor, considering both external and internal candidates. Hanson will remain in his role until a successor is appointed and then transition to an advisory capacity.
CEO Cris Keirn praised Hanson's pivotal role in transforming Turtle Beach from a gaming audio business to a global leader in high-performance gaming accessories. Hanson expressed confidence in the company's future, citing strong Q2 results with 59% year-over-year revenue growth and an upward revision to Adjusted EBITDA guidance. He emphasized Turtle Beach's well-defined strategy for sustained growth and profitability.
Turtle Beach (Nasdaq: HEAR) ha annunciato il pensionamento previsto del CFO John Hanson dopo un mandato di 11 anni. L'azienda ha ingaggiato Korn Ferry per assistere nella ricerca di un successore, prendendo in considerazione sia candidati esterni che interni. Hanson rimarrà nel suo ruolo fino alla nomina di un successore e poi passerà a un ruolo di consulenza.
Il CEO Cris Keirn ha lodato il ruolo centrale di Hanson nella trasformazione di Turtle Beach da un'azienda di audio per videogiochi a un leader globale negli accessori per gaming ad alte prestazioni. Hanson ha espresso fiducia nel futuro dell'azienda, citando risultati brillanti per il secondo trimestre con un aumento del fatturato del 59% rispetto all'anno precedente e una revisione al rialzo delle stime dell'EBITDA rettificato. Ha sottolineato la strategia ben definita di Turtle Beach per una crescita sostenuta e la redditività.
Turtle Beach (Nasdaq: HEAR) ha anunciado la jubilación planificada del CFO John Hanson después de 11 años en el cargo. La compañía ha contratado a Korn Ferry para ayudar en la búsqueda de un sucesor, considerando tanto candidatos internos como externos. Hanson permanecerá en su puesto hasta que se designe a un sucesor y luego pasará a un rol asesor.
El CEO Cris Keirn elogió el papel fundamental de Hanson en la transformación de Turtle Beach de un negocio de audio para juegos a un líder global en accesorios de juegos de alto rendimiento. Hanson expresó confianza en el futuro de la compañía, citando resultados sólidos del segundo trimestre con un crecimiento del 59% en los ingresos interanuales y una revisión al alza de la guía de EBITDA ajustado. Enfatizó la estrategia bien definida de Turtle Beach para un crecimiento sostenido y la rentabilidad.
터틀 비치(Turtle Beach) (Nasdaq: HEAR)는 CFO 존 한슨(John Hanson)의 11년 재직을 마치고 예정된 은퇴를 발표했습니다. 회사는 후임자 찾기를 위해 콘 페리(Korn Ferry)에 의뢰했으며, 외부 및 내부 후보자를 모두 고려하고 있습니다. 한슨은 후임자가 임명될 때까지 자신의 역할을 유지하며, 이후 자문 역할로 전환할 예정입니다.
CEO 크리스 키른(Cris Keirn)은 한슨이 터틀 비치를 게임 오디오 비즈니스에서 고성능 게임 액세서리의 글로벌 리더로 변모시키는 데 핵심적인 역할을 했다고 찬사를 보냈습니다. 한슨은 전년 대비 59%의 매출 성장을 기록한 2분기 실적에 언급하며 회사의 미래에 대한 자신감을 표현했습니다. 그는 터틀 비치의 지속적인 성장과 수익성을 위한 잘 정의된 전략을 강조했습니다.
Turtle Beach (Nasdaq: HEAR) a annoncé la retraite programmée du CFO John Hanson après 11 ans de mandat. L'entreprise a engagé Korn Ferry pour l'aider à trouver un successeur, en considérant à la fois des candidats externes et internes. Hanson restera dans son rôle jusqu'à la nomination d'un successeur, puis passera à un rôle de conseil.
Le PDG Cris Keirn a salué le rôle essentiel de Hanson dans la transformation de Turtle Beach d'une entreprise d'audio de jeu en un leader mondial des accessoires de jeu haute performance. Hanson a exprimé sa confiance dans l'avenir de l'entreprise, citant de solides résultats pour le deuxième trimestre avec une croissance du chiffre d'affaires de 59 % par rapport à l'année précédente et une révision à la hausse des prévisions d'EBITDA ajusté. Il a souligné la stratégie bien définie de Turtle Beach pour une croissance soutenue et une rentabilité durable.
Turtle Beach (Nasdaq: HEAR) hat die geplante Pensionierung von CFO John Hanson nach einer 11-jährigen Amtszeit angekündigt. Das Unternehmen hat Korn Ferry beauftragt, bei der Suche nach einem Nachfolger zu helfen, wobei sowohl externe als auch interne Kandidaten in Betracht gezogen werden. Hanson bleibt in seiner Rolle, bis ein Nachfolger ernannt ist, und wird dann in eine beratende Funktion wechseln.
CEO Cris Keirn lobte Hansons zentrale Rolle bei der Transformation von Turtle Beach von einem Gaming-Audio-Unternehmen zu einem globalen Marktführer für leistungsstarke Gaming-Zubehörteile. Hanson äußerte Vertrauen in die Zukunft des Unternehmens und nannte starke Ergebnisse im zweiten Quartal mit einem Jahresumsatzwachstum von 59% sowie eine positive Anpassung der bereinigten EBITDA-Prognose. Er betonte die klar definierte Strategie von Turtle Beach für nachhaltiges Wachstum und Rentabilität.
- 59% year-over-year revenue growth in Q2
- Upward revision to Adjusted EBITDA guidance
- Well-defined strategy for sustained growth and profitability
- Departure of long-serving CFO John Hanson
Insights
The planned retirement of CFO John Hanson after an 11-year tenure is a significant transition for Turtle Beach (HEAR). While leadership changes can create uncertainty, the company's proactive approach in initiating a search and ensuring a smooth transition is positive for stability.
Notably, Hanson's departure comes on the heels of strong Q2 results, with
Investors should monitor the successor selection process closely, as the new CFO will play a important role in executing Turtle Beach's growth strategy and maintaining financial discipline in the competitive gaming accessories market.
Turtle Beach's evolution from a gaming audio business to a global leader in gaming accessories under Hanson's tenure reflects the company's successful diversification strategy. This positions HEAR well in the expanding gaming peripherals market, which is projected to grow at a CAGR of
The company's strong Q2 performance amidst a challenging macroeconomic environment demonstrates resilience and market share gains. Investors should watch for:
- Continuation of product innovation
- Expansion into new gaming accessory categories
- Potential M&A activities to further strengthen market position
WHITE PLAINS, N.Y., Aug. 08, 2024 (GLOBE NEWSWIRE) -- Turtle Beach Corporation (Nasdaq: HEAR), a leading gaming headset and accessories brand, today announced that Chief Financial Officer and Treasurer John Hanson, has informed the Company of his intent to retire after an over 45-year career in leadership, operational, and strategic finance roles. The Company has retained Korn Ferry, an executive recruiting firm, to assist in the search for his successor, and the search will include both external and internal candidates. Mr. Hanson is expected to remain in his current role until a successor is appointed and to remain with Turtle Beach in an advisory capacity following the successor appointment to support continuity and a smooth transition.
“Throughout his impressive 11-year tenure at Turtle Beach, John played a pivotal role in propelling the Company from a gaming audio business to a global leader providing gamers high-performance accessories, including headsets,” stated Cris Keirn, Turtle Beach’s Chief Executive Officer. “As an invaluable resource and advisor during my transition into the CEO role, John has consistently demonstrated exceptional leadership. The entire Turtle Beach team joins me in extending warm wishes to him and his family as he enters retirement.”
“During my tenure at Turtle Beach, I’ve had the privilege of collaborating with exceptional colleagues on globally renowned brands, contributing significantly to the Company’s position as a leader in the industry,” said John Hanson, Turtle Beach’s Chief Financial Officer. “Second quarter results with
About Turtle Beach Corporation
Turtle Beach Corporation (the “Company”) (www.turtlebeachcorp.com) is one of the world’s leading gaming accessory providers. The Company’s namesake Turtle Beach brand (www.turtlebeach.com) is known for designing best-selling gaming headsets, top-rated game controllers, award-winning PC gaming peripherals, and groundbreaking gaming simulation accessories. Innovation, first-to-market features, a broad range of products for all types of gamers, and top-rated customer support have made Turtle Beach a fan-favorite brand and the market leader in console gaming audio for over a decade. Turtle Beach Corporation acquired Performance Designed Products (www.pdp.com) in 2024. Turtle Beach’s shares are traded on the Nasdaq Exchange under the symbol: HEAR.
Cautionary Note on Forward-Looking Statements
This press release includes forward-looking information and statements within the meaning of the federal securities laws. Except for historical information contained in this release, statements in this release may constitute forward-looking statements regarding assumptions, projections, expectations, targets, intentions, or beliefs about future events. Statements containing the words “may”, “could”, “would”, “should”, “believe”, “expect”, “anticipate”, “plan”, “estimate”, “target”, “goal”, “project”, “intend” and similar expressions, or the negatives thereof, constitute forward-looking statements. Forward-looking statements involve known and unknown risks and uncertainties, which could cause actual results to differ materially from those contained in any forward-looking statement. Forward-looking statements are based on management’s current beliefs and expectations, as well as assumptions made by, and information currently available to, management.
While the Company believes that its expectations are based upon reasonable assumptions, there can be no assurances that its goals and strategy will be realized. Numerous factors, including risks and uncertainties, may affect actual results and may cause results to differ materially from those expressed in forward-looking statements made by the Company or on its behalf. Some of these factors include, but are not limited to, risks related to logistic and supply chain challenges, the substantial uncertainties inherent in the acceptance of existing and future products, the difficulty of commercializing and protecting new technology, the impact of competitive products and pricing, general business and economic conditions, risks associated with the expansion of our business including the integration of any businesses we acquire and the integration of such businesses within our internal control over financial reporting and operations, our indebtedness, liquidity, and other factors discussed in our public/// filings, including the risk factors included in the Company’s most recent Annual Report on Form 10-K, Quarterly Report on Form 10-Q, and the Company’s other periodic reports filed with the Securities and Exchange Commission. Except as required by applicable law, including the securities laws of the United States and the rules and regulations of the Securities and Exchange Commission, the Company is under no obligation to publicly update or revise any forward-looking statement after the date of this release whether as a result of new information, future developments or otherwise.
CONTACTS
Investors:
hear@icrinc.com
(646) 277-1285
Public Relations & Media:
MacLean Marshall
Sr. Director, Global Communications
Turtle Beach Corporation
(858) 914-5093
maclean.marshall@turtlebeach.com
FAQ
Why is Turtle Beach 's CFO John Hanson retiring?
How is Turtle Beach (HEAR) handling the CFO transition?
What were Turtle Beach's (HEAR) Q2 2024 financial highlights?
How long has John Hanson been with Turtle Beach (HEAR)?
