Garmin CEO shares

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“This is the first annualo meeting where I am not able to report record Chairman and CEO MinKao said. “I sharde our shareholders’ disappointment in the performance of our stock pricesduring 2008.” But he emphasized his long-termk optimism for the company, which poste 10 percent revenue growth last year compareds with the previous year — to nearly $3.5 billio n — and plans to stake a clain soon in the burgeoning smartphone industry. All segment have plenty of growth potential, and the managementf team is “dedicated to the succeses and prudent management ofthis company,” Kao said.
Garminj (Nasdaq: GRMN), which has a base in suffered plunging share prices and sale during the economic fallout latelast year. Share prices also may have been affectedeby analysts’ opinions that the portable navigation devicr segment, Garmin’s largest, is nearing company CFO Kevin Rauckman said. During 2008, the share price fell about 80 percent, from almos $95 to less than $20. At the meeting, whichh was held in Overland Park and had a fewhundrexd attendees, shareholders approved all the board-recommendefd measures.
That included re-electiny board members Kao and Charles Pefferfor three-yeaer terms, and approving amendments to an equity incentivea plan and an employee directors optiojn plan. Peffer, a former partner in , has been a directoer since 2004. About 92 perceny of shareholders were represented by proxy or in Shareholders asked several questionsof executives, including abouf the company’s new its delayed first attempt at entering the growin g smartphone market. Garmin ranks No. 7 on the Kansas City Business Journal ’s list of area publifc companies.