NEW YORK (AP) — Garmin President and Chief Operating Officer Clifton Pemble will become CEO at the start of the new year as part of the company's succession plan.
Pemble succeeds Min Kao, co-founder of the company. Kao will become executive chairman.
Pemble, who has worked at Garmin since 1989, is already a member of the board.
In October Garmin Ltd. reported that its third-quarter net income fell as the stronger dollar hurt its results. But stronger sales of cars and mobile devices and outdoor gadgets helped boost revenue, and results topped analyst expectations.