Garmin names Pemble as its CEO

(AP) Garmin President and Chief Operating Officer Clifton Pemble will become CEO at the start of the new year as part of the company's succession plan.

Pemble succeeds Min Kao, co-founder of the company. Kao will become executive chairman.

Pemble, who has worked at Garmin since 1989, is already a member of the board.

In October Garmin Ltd. reported that its third-quarter net income fell as the stronger dollar hurt its results. But stronger sales of cars and mobile devices and outdoor gadgets helped boost revenue, and results topped analyst expectations.