What Happened At Krell and Why The D’agostino Family Is Out

What Happened At Krell and Why The D’agostino Family Is Out

پنجشنبه 23 سپتامبر 2010
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آقای دن دی آگوستینو صاحب کمپانی Krell برای گسترش کارش انگار با یک شرکت دیگه شراکت میکنه و اون شرکت بشکلی قانونی هم دی آگوستینو رو و هم بقیه اعضای خانواده اونرو از شرکت Krell شوت میکنه بیرون.

بنظر میرسه دی آگوستینو داره با اسم خودش برند میسازه ، این خبر مال سال 2009 هست اما من تازه دیدمش :

http://hometheaterreview.com/what-happened-at-krell-and-why-the-dagostino-family-is-out/

Krell is one of the most respected and lofty brands in high end audio history. This summer – much like many specialty AV companies who are looking to be able to produce, design and license the latest and greatest new technologies in AV – Krell looked to new investors by the name of KP Partners. The D’agostino family wouldn’t be the first and certainly not the last who needed short term funds, more high-level management and other external help in order to grow; yet something went very wrong with the relationship very quickly.

Krell was founded by Dan D’agostino and his now ex-wife and Krell President, Rondi, 29 years ago. Dan’s oldest son, Bret D’agostino, up until the sweeping changes, was one of Krell’s technical gurus. But only months after bringing in new partners and right about the time of the CEDIA tradeshow in early September 2009 – the entire D’agostino family was out at Krell. Literally, clean out your desks and goodbye.

What exactly happened that turned the deal so acrimonious so quickly is unclear. However, the new investment group has made a power play to gain control of the company, with its founders being escorted to the door of the company they created nearly three decades ago. The details of this dispute are now the basis of a lawsuit filed by the D’agostinos against the new partners in hopes of wrestling control of the company back. Even as Dan and Rondi sit on the board, have the majority of stock, yet somehow have lost voting control that governs the direction of the company.

Like watching a family divorce, the AV industry has been sitting back this fall hoping that the two parties can find an amicable solution to their most pressing issues. To give them credit, the new partners have quickly put the company in position to launch a new series of their Evolution series products as well as announced the pending Consumer Electronic Show 2010 debut of a Krell Blu-ray player. They have additionally committed to show at a new regional consumer show and have made various promotions and personnel changes. Clearly, they are not sitting back waiting to see what comes next. They are taking their future in their hands. At the same time, to not understand that the lead designer (of not just every key Krell component ever made, but the all-time classic Aragon 4004 amp) can be a bit difficult to deal with is a key misunderstanding at the heart of the dispute. Enzo Ferrari wasn’t exactly Dale Carnegie but he sure made one hell of a sexy, high performance car and it is not a stretch to compare Krell with Ferrari or Dan with Enzo.

In the end, Krell needed money and new management; yet the company is still the cult of personality of Dan D’agostino. Their clients, dealers and reps all know that. Moreover, Krell has always been a family business and it will take time, marketing and more innovative products under the Krell name to change that in the years to come. In an industry where public companies and private equity firms have bought (nearly always with bad results) personality-driven AV companies – now is the time for a settlement between the two parties in this dispute. A protracted, he-said she-said lawsuit will likely yield no winners except the lawyers. Consumers will always love and covet Krell and they will always respect Dan and his legacy. Now is the time is to make things right and to settle the dispute and smooth over any hard feelings, as Krell will certainly continue on successfully, just as Dan will likely engineer, promote and sell some of the world most lofty audiophile and videophile electronics.

http://www.twice.com/article/438946-Krell_Founders_Sue_To_Make_Return.php?rssid=20328&q=krell

Krell Founders Sue To Make Return
By Joseph Palenchar — TWICE, 12/7/2009

STAMFORD, CONN. — Krell founders Dan and Rondi D’Agostino have filed a lawsuit here against private-equity fund KP Capital Partners and current KP-allied Krell executives to regain their management roles at the high-end audio company they founded in 1980.

In their lawsuit, the founders contend they were locked out of the company’s Orange, Conn., offices about three months ago in violation of their employment agreements after trying to assert their right to fire a KP-backed executive. They also contend that KP used “fraudulent, overreaching and unconscionable tactics” in “a scheme to usurp the assets of old Krell [owned 100 percent by the D’Agostinos] at a discount, and exert complete control of new Krell, despite only purchasing a minority ownership interest.”

KP Capital Partners, a New York City private-equity fund, purchased a 40 percent stake in Krell Industries in April. Dan and Rondi D’Agostino continued to hold the other 60 percent and were to remain CEO and president, respectively, the suit said. Dan D’Agostino was also to stay on as chief product designer. Both founders also held two of five board seats.

KP executive Ling Kwok, however, “improperly terminated the employment of each of the founders, and effectively terminated their ownership and roles as minority managers, literally locking them out of the company,” the suit said.

In another development, KP filed its own suit against the D’Agostinos, said Walter Schneider, who the company promoted from COO to the position of president. KP’s lawsuit “states clearly the reasons this situation has gone sour” and states “some of the misrepresentations that related to the original purchase,” he said. “Obviously some seller’s remorse set in.”

Schneider said Krell is “focusing on business and letting the lawyers work on the issues between the investors and the founders. At Krell, he said, “There is stability,” and the company plans to introduce its first Blu-ray player and other products at January’s CES.

Separately, Todd Eichenbaum has been promoted to Krell’s director of engineering and new product development, Krell said in a written statement. Eichenbaum has been lead engineer on more than 50 Krell products during the past decade, the company said. Peter McKay continues as international sales and marketing VP, and Bill McKiegan remains U.S. sales and marketing VP, Krell said.

البته همینکه بعد از یکسال من خبردار شدم خیلی هم رکورد بدی نیست چون من 9 ماهی میشه از میکده رفتم بیرون!

بی ربط به بحث بالا :

Abrahamsson Audio

http://www.hififorum.nu/forum/topic.asp?TOPIC_ID=80397

http://www.euphonia-audioforum.se/forums/index.php?showtopic=7952&st=30&start=30

http://shop.textalk.se/se/shopwindow.php?id=1785&shopwindow=2751468

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