The story
Founded by Amar Bose in 1964, in Massachusetts.1
The company was founded in Massachusetts in 1964 by Amar Bose with angel investor funding, including Amar's thesis advisor and professor, Y. W. Lee. Bose's interest in speaker systems had begun in 1956 when he purchased an audio system and was disappointed with its performance. The purpose of the company was to develop speaker systems which used multiple speakers aimed at the surrounding walls to reflect the sound and replicate the sound of a concert hall.
In 1966, after 10 years of research, the Bose 2201 was the first product sold by the company. It was an unusual design consisting of 22 speakers, with many of them facing away from the listener. The 2201 was designed to be located in the corner of a room, using reflections off the walls to increase the apparent size of the room. The 2201 failed in the marketplace and was discontinued the same year.
After this experience, Bose concluded that the audio system measurement techniques of the time (such as measuring distortion and frequency response) were ineffective ways to evaluate the goal of natural sound reproduction. Bose argued that the listener's perception was the best measure of audio quality. In 1968, the company introduced the Bose 901 stereo speaker system, which used eight mid-range drivers pointing toward the wall behind the speaker, and a ninth driver toward the listener. This design aimed to achieve a dominance of reflected over direct sound in home listening spaces. The design used for the 901 was unconventional compared with most systems, where mid-range and high-frequency speakers directly face the listener. The 901 was an immediate commercial success. As a result, Bose Corporation experienced rapid growth during the 1970s. The Bose 901 model name was a mainstay of the Bose line-up for many years, being produced from 1968 until 2016.
In 1991, a team of Bose researchers debunked a 1989 experiment that claimed to have created energy through cold fusion.
The first Bose retail store was opened in 1993 in Kittery, Maine.
In 2005, Bob Maresca was named president of Bose. Maresca had been promoted to vice president of Bose’s largest business, the Home Entertainment Division, in 2002.
In 2011, then-chairman and primary stockholder Amar Bose donated the majority of the firm's non-voting shares to his former employer and alma mater, the Massachusetts Institute of Technology. An annual cash dividend is paid out to "advance the research and education mission of MIT." However, the conditions of receiving the shares stated that MIT was not allowed to sell them, nor was MIT permitted to participate in the company's management and governance. Following Amar Bose's death in 2013, Bob Maresca became the chief executive officer (CEO).
In June 2016, Bose and Flex manufacturing extended their strategic partnership, transferring Bose operations in Malaysia and Mexico to Flex.
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At the end of 2017, Maresca stepped down as CEO, and Bose President Phil Hess took the position. Maresca remained Chairman of the Board.
In January 2020, Bose announced that it would be closing all its more than 100 retail stores in North America, Japan, Europe, and Australia. About 130 stores would remain open in Asia and the Middle East. It would also retain its online presence, as well as sell its products through Target, Best Buy, and Amazon.
In late January 2020, President and COO Jim Scammon, who had worked at Bose for 30 years, replaced Phil Hess.
In August 2020, Bose selected its first female CEO, Lila Snyder, who was formerly an executive at Pitney Bowes. Snyder, who took her position in September 2020, is an MIT alumna, having earned her masters and Ph.D. degrees in mechanical engineering there.
From Wikipedia’s article on Bose (brand), shared under CC BY-SA 4.0.5
