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Resignations and restructuring at Bowers & Wilkins

The B&W plot thickens and with unknown impact on the wireless Formation line.

My colleagues at What HiFi? are reporting that Gideon Yu, the ex-Facebook CFO who led Eva Automation’s shock acquisition of B&W in 2016, has left Bowers & Wilkins, according to company filings. Gregory Lee, who was made CEO at the end of 2019, also appears to have resigned from that role.

David Duggins has been appointed as a director of B&W Group. Duggins describes himself as a, “restructuring professional available for Board or Advisory roles in companies undergoing restructuring, re-financing or sale”.

Yu and his Silicon Valley start-up, Eva Automation, were widely seen as the final piece in the jigsaw for the completion and launch of B&W’s impressive Formation wireless range, with the company helping to push the high-end system over the line following the surprise acquisition.

At the time of the takeover, Yu said: “Bowers & Wilkins brings an incredible brand, experienced and well respected team and commitment to making high-end audio equipment of unmatched quality. We at Eva share their same product vision and passion for home entertainment and look forward to creating fantastic home AV experiences together as one combined company.” The company’s website claimed it was in the business of “reimagining the audio/video experience by making products that will change how people interact and think about the home”.

A full range of B&W Formation products was launched in April last year – with glowing reviews to the Formation DuoFormation Wedge and Formation Flex.

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