Inovonics CEO Gets Company Torch As Jim Wood Steps Aside

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In 1972, broadcast equipment manufacturer Inovonics opened its doors. It was initially financed and has been wholly owned by Jim Wood, and his immediate family, across the last 50 years.


Now, Wood, who stepped into retirement 16 years ago, is giving up his stake in Inovonics.

Taking on ownership of Inovonics is Ben Barber, who was elevated to President/CEO from COO in 2012.

The transaction was completed on August 1. Inovonics will remain based in Felton, Calif.

Wood, who is 80 years old, is now formally retiring, although he gave up day-to-day duties in 2006 with Barber’s naming of Chief Operations Officer.

Wood said of Barber, “Ben has evolved into a much better manager and planner than I ever was, and under Ben’s guidance the company has dramatically increased its presence, market share and prestige within our industry.”

Wood believes the change in ownership is “nominal” for the most part, and that Barber’s decisions over the past 16 years represent the direction the company will continue to follow.

While Wood won’t be an owner or an officer of Inovonics, he does plan to maintain ties to the company he founded as an “informal advisory.”

But, retirement projects will now be Wood’s first priority.