Typically, public corporation executive changes are handled smoothly (ok, not Avigilon).
But access control giant HID has mysteriously parted with their CEO. Their is no official announcement but the ex-CEO, Denis Hebert has updated his LinkedIn profile and HID has removed him from the management page. The most details available are from a PR person to a trade mag, declining to "comment on the reason for Hebert's departure and the replacement search process."
Assa all together has ~$6 billion annual revenue, and HID is in a division with Assa's hospitally unit that did ~$860 million annual revenue in 2014.
HID's organic sales were likely down in 2015. Their division was only up 1% organically but the hospitality unit they were in had strong growth. In addition, Assa said project orders were negative for HID in 2014, blaming "Demand from institutional customers in mature markets remains restrained in the light of ongoing budget restrictions"
The sloppy handling of this move either means that the ex-CEO either quit in a rush or was ousted. Either way, not a good sign for HID.
Anyone have any inside color of what motivated this?