Beats Electronics Names COOWednesday, November 6, 2013
Headphone maker Beats Electronics has appointed Matthew Costello as chief operating officer.
Costello, who was previously head of group strategic development for Ikea, will report to Beats President Luke Wood. Wood had been acting as both president and COO prior to Costello's appointment.
Costello already has some familiarity with the Beats brand. While chief operating officer at HTC Corp. in Taiwan in 2011, he helped the electronics giant take a majority stake in the Santa Monica startup. (Beats recently completed a buyout of HTC's stake.)
"I've known Matt a long time and have had the pleasure of working with him in multiple capacities over the years," Wood said in a statement. "His credentials and experience as an operations leader who can help drive innovation and support growth in a global organization speak for themselves."
Beats also announced Wednesday that Wood has been appointed to the board, which includes co-founders Dr. Dre and Jimmy Iovine and three unnamed independent directors.
The company, which began selling the Beats by Dr. Dre headphones in 2008, is expected to launch a music streaming service sometime this month, according to a report from tech blog TheNextWeb.