STAMFORD, CT – January 8, 2009 – Harman International Industries, Incorporated (NYSE: HAR) announced today that Lakshminarayan will join the Company on January 15, 2009 as President and Country Manager of India operations. He will be based in Bangalore and report directly to the Chairman and CEO of Harman International.
"This appointment is the next step in our group strategy to unlock Harman’s real potential in India," said Dinesh C. Paliwal, Chairman and Chief Executive Officer. "This has been a rapidly developing market and, given its demographic profile, will emerge as an important growth area for us in the medium and long term. It will also serve as an important center for R&D and innovation, and we intend to tap the enormous talent available. Lakshmi’s extensive knowledge of the region will help drive our strategies to unlock this full potential.”
Mr. Lakshminarayan has a Master degree from the Indian Institute of Technology, Bombay, and was active in the development of Tata Motors during its initial days at Pune, India. He later joined Bosch India where he was responsible for various key positions including heading a product group in Germany and serving on the Board in India as Joint Managing Director. He has been instrumental in tapping the Indian market for growth and market share. He is an active member of the Confederation of Indian Industries and has held several leading positions including membership on the state Industrial Policy Board to formulate new policies.
Harman International (www.harman.com) designs, manufactures and markets a wide range of audio and infotainment products for the automotive, consumer and professional markets. The Company maintains a strong presence in the Americas, Europe and Asia and employs about 11,000 people worldwide. The Harman International family of brands spans some 15 leading names including AKG, Audioaccess, Becker, BSS, Crown, dbx, DigiTech, Harman Kardon, Infinity, JBL, Lexicon, Mark Levinson, Revel, QNX, Soundcraft and Studer. The Company's stock is traded on the New York Stock Exchange under the Symbol HAR