Longtime Garmin CEO Min Kao Steps Down
Min Kao, the co-founder and CEO of navigation company Garmin, is stepping down at the end of the year. The new head honcho is Clifton Pemble — who joined Garmin as an engineer in 1989, and has most recently been president and COO. Shares of Garmin were trading up slightly this morning. As Arik Hesseldahl recalled this summer, Kao had long resisted the encroachment of smartphones, dismissing them as a commodity business.
