Eva Automation Remains Responsible for Licensing, Software in Restructuring, Says B&W

Bowers & Wilkins stakeholders thought “having two boards would better reflect our specific fields of responsibility going forward,” Andy Kerr, director-product marketing and communications, emailed Friday about the company's restructuring to form a board independent of owner Eva Automation. “As of now, EVA is responsible for licensing and software development, while Bowers & Wilkins remains focused on everything to do with audio,” said Kerr, adding “everything that the brand is already well known for.” B&W stakeholders are “actively supporting this change with additional funding to further develop the business.” A Thursday news release (see 2002270054) said the companies will continue to cooperate with each other “where mutually beneficial.” Responding to our question whether the two companies will separate completely, Kerr said, “That’s not currently planned.” Eva remains a Bowers & Wilkins shareholder, he said. David Duggins, tapped as “sole Independent Director” in the new B&W structure, has 25 years’ experience in the restructuring market, said Kerr. Geoff Edwards, assuming responsibility for leading the team with responsibility for day-to-day operations, is a 17-year veteran of the high-end audio company: “He knows our brand inside out,” Kerr said. Joe Atkins, CEO of B&W when it was acquired by Silicon Valley-based Eva Automation in 2016 (see 1605030054), is one of the secured creditors who have taken control of the company, those familiar with the situation told us. Atkins wasn’t available for comment. Eva Automation CEO Gideon Yu, co-owner of the San Francisco 49ers, couldn't be reached for comment. Visitors to Evaautomation.com were redirected to the B&W website Friday.