Midas and Klark Teknik are now undergoing a restructuring of the management team "to accommodate Oakley's departure and allow for better integration within the shared services of the parent Music Group".
Ian Riley, who joined Midas and Klark Teknik from Harman earlier this year, takes on the role of VP operations and R&D, while Jonathan Chitty is VP customer support, a new division which handles day-to-day commercial and financial matters.
On the manufacturing side, the Music Group has invested $10m in a dedicated manufacturing facility for the Midas and Klark Teknik brands, with another $10m in SMT and optical inspection systems. Also driving the next phase of Midas and Klark Teknik's development is the expanding R&D 'centre of excellence' in Manchester, established with significant investment from the Music Group to recruit new R&D talent for the brands. Alex Cooper remains as an R&D consultant to Midas and Klark Teknik to oversee ongoing and future products.
Uli Behringer, CEO of the Music Group said, "I am sad to see John leave the company after all he has done for Midas and Klark Teknik. We wish him all the best for the future. With the strong team we have in place now, Midas and Klark Teknik is already seeing a strong increase in revenue streams and the volume of products shipped such as the new Venice F which is in full mass production."
In addition to its ongoing recruitment of R&D engineers, Midas and KT are seeking product managers and industrial designers to carry the brands forward. Several new product launches are planned for later this year.
(Jim Evans)
