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Loud Technologies names Rodney Olson as new CEO

1 September 2008

The board of directors of LOUD Technologies Inc has announced that Jamie Engen is stepping down from his position as chairman and chief executive officer effective immediately.

The board has named Rodney Olson as the company's Chairman and CEO.

"Over the past ten years, Jamie has played a critical role in growing LOUD into the industry leader that it is today. We appreciate his contributions and wish him the best," said Tom Taylor, the board member who led the search for Engen's successor. "We are fortunate to have a strong successor to take over the reins and continue our growth efforts."

Olson joins LOUD after a decade with Cardinal Brands, a Kansas-based $170 million office products company, where he has served as CFO, president and, most recently, CEO for the past two years. Under Olson's leadership, the company's revenues grew 30 percent despite highly competitive market conditions. Prior to his time at Cardinal Brands, Olson served as CFO at Sabreliner Corporation, a $250 million aviation company, where he led the company's M&A activity and was integral in driving revenue and market share growth in the six years he was there.

"Rodney has a proven track record of success over his 20 years of experience in executive positions, and the board is confident he has the skills and expertise needed to lead LOUD into the future," said Taylor. "His focus will be on integrating our recent acquisition of Martin Audio, while also overseeing sales and marketing to help LOUD and our dealer partners drive our stable of well established brands."

Asked whether this might mark a reduction of Martin Audio’s autonomy, Olson told mondo*dr he would be meeting the Martin team during PLASA to learn more about their business.

“Like each of its sister brands at LOUD, Martin boasts an envied leadership position, category-killing products and increasing demand. Everything we do moving forward will be to strengthen its market position, and the position of all LOUD brands.,” he said.

Discussing how his appointment would mean for LOUD, Olsen said: “I certainly bring a fresh perspective to the team and I'm eager to build on LOUD's strengths. I'm equally as excited to help redirect efforts in some areas where we've been less successful. I look forward to working with the LOUD management team – that has more 200 years of cumulative industry experience – to set this direction for the Company.”





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