Convergint Hires Former Publicly Traded Company CEO
Convergint now has 10,000+ employees, a massive amount for a security integrator, but who is their new leader?
Convergint went outside the industry to pick a CEO who has been CEO three times previously, including most recently at a $12 billion valued publicly traded company that ended in controversy.
This report examines the background of the new CEO, the fit with Convergint, and how this will help Convergint go public itself.
Executive *******
*** ************** ******** ********** ** ********** **** the ******* **** **** ** / when ** ******* ** ** ******, including * ******* ***, ***** * publicly ****** *** *** ****** **** years, *** ****** ** ******** ** investors *** *****. ***** ******** *** no ******** **********, *** *** ********* they ** *** **** ********** ******* has * **** ****** ** ******** veterans.
*******, ********'* ****** ** ** ******'* CEO ***** ** **** **** ***********, in * ******* ***** ************, **** the ***** ****** *** ******** ***** she ***** * ****** ****** ******** she *** ***. ** ****** ********** did *********** *** ********* ***** ****, especially ***** ******* ** *** ******* principle ** *** *******.
********** ** ** ***** *** (**** reported **** ******* ** ~$*.* *******) that ***** ******* ****** ****** ** not **** *********** ******* ****** ***** public. ***** ** ** ***** ******** that ********** **** ** ******** ** some ****-******, ** **** **** **** as *********** *** ******* *** ** IPO **** *** **** *** *****.
************
********** ********* *** ******** * **-****** *****, ******** *****, emphasizing *** ********** ** **********'* ******* (though **** ** ********** ** ***** public):
*** **** ********** ********, ************* ************ ********* ********** ******, *** *** *** *******, ************* ******* **********.
**********
******** *** * *** ** ******** and *********** ********* **** ** ********* to ******** ****** *********:
Speaking **** *****
******** ** * ******** ******* *** has ********* ********** *********** **** ********* and *****, *.*., *****, ******** ****** with *** ******'* *** *****:
**** ****** * $*+ ******* ************** *** ** ****.
******** *** **** *** ** ******* companies *** **** * ******, **** below ** ******* ** *** ******** locals *** *****:
** *** **** ********** **** ******, they **** **** ** ********* *** can *** **** ********** ********* *** media **** ****** **** ***** ***** of **********.
***********
*******, ********, **** **** ****, *** at *** ****** ** * *********** that *************** ****** ****** ******.
*** ***** ** *** ****** *******,** ******, *********** *** ******** ***** *** *** not *** *** ************ *** ********:
**.Fandozzi ******** that, in order for her to continue as CEO, the Board needed to approve a front-loaded ************ program that would bring forward 5-years of equity compensation. The Board unanimously determined that such structure and the magnitude of the associated payout reaches far beyond peer group benchmarks, is out ** **** **** ****** standards and is not in the best interests of the Company or RB Global shareholders. Although the Board attempted to work with Ms. Fandozzi in good faith on this matter, Ms. Fandozzi *** ********* ** ****** any pay package that was not front-loaded and informed the Board of her ******** ** ******. [emphasis added]
* *** ***** *****, ******** ***** a ** **** ************ * ****** *************** *** *****'* ********, *********** ****** they ***** *** *** **** ***** it:
****-*** ******** ******* ******** *********** ****-****** ******* ** ***** ***** through ****.
****- ************* ******* ** ****** ********** – ********* ****** – ***** *** have ******** *** ****-**** ********* ************ if **** **** ****** ***** ********** years ** *******....
*** ******* **** *** ******* *** stated ********, * *** *** ****** from *** ***** ********* ******* ****.
*** *** ********, ** *** ****, **** ***** was "*****" **** **** *********** *** that ******** *** ******** **** *********** support ** **** *******:
** ***** *** ****** ***** *** a ******* **** ****** *** ****** to **** *** * *** ****** that **** ************ *******. ******** *** ultimately **** ** *** *** *********** through, ** ***** ********** ** * **** *** ********** ********* ***** *** **** *****, who *** **** ** ** ******’* board. ** * *****, *** ********—********* the ***** ***** *******—*** *** ****** executive *** *** ********* ****** ******* each ***** **** *** ****.
***** *** *******'* ***** ******* **%+ shortly ***** **** ******* ** ****** 2023, *** ***** *** ***** *********:
** ********* ** *** **** ****** about *** ******* ** ** ****** or *** ** "*****" ** "*****" here. *******, ** ** **** **** such ****** ******** *** ****** ******** and *** ***** *** *********.
** ******'* ***** *** ** ~**% during *** * ** * ***** Fandozzi *** ***, ******** ** ******* 2020 *** ****** ** ****** ****:
Convergint *********
********** *** **** ***** ** * series ** ** ***** **** *** years, **** ***** **** ********,**** **********, ****** ** ****, * ***** ***. **** **** two ***** ***,**** **** ****** *** ***** ** ***** ** firms.
** ***** **** ******* ** ****-**** time ******, ******* ** **** *********** rather **** **** ************.
** *** *** ***** ** ****' ownership, ********** *** ******* ******* **** ~$750 ******* ** ******* ** ~$*.* billion ** *******, ****** ********** *** largest ******** ******* ********** ********* ** North *******, ** *** *** *****.
Going ******
***** ********** *** *** ********* ** going ******, ***** **** ***** **** now *** *** ********* ** * former ******** ****** *** ** ******** for * ******* **** ******* **, at *** **** *****, ***** ** seriously **** *** ****** ** ***** public ** *** **** *** *****.
** ******** *******, ** **** *****************'* $** ******* ******* ******* ***** **** ****.
**********:********** ******* **********
* ***'* ***** ****** ** ******** back *** ******, *** **** **** clear **** ***** ***** ** ******* remains. ****'* *********** ** ***** **** to ** **** ***** ********** ** scale ** ****.
****'* *********** ** ***** **** ** do **** ***** ********** ** ***** in ****.
* ***** *********** ** ** **************.
***, ***** ** ****** ** *** for ******-*** ********** ** ******** * corporate ******* **** **** ******* ********** with *** ****** *** *** *** line **** ** *** *** **** those ****** ****** **** **** ***********.
* ***** **** *** *** *** beyond *** ******* ***** ** ***** they ************ **** **** *********** - and *** '*******' **** ******* * talking ***** ** *** *****-****** * letter **** ******* ** **** *** joint ****** *** **** **** ** to *** **** *****.
*** '*******' **** ******* * ******* point ** *** *****-****** * ****** suit
* ***** ****'* *** ***********. *** example, ***** *** ****** ** ****** Glassdoor ******* *** **** *** ********* solid. **** *** *** ** *** rah ** **** **** ***** *** but ***** ****.
*'* *** ***** *********** - * think *** **** ** ****... ** all ******** ****** ** *** ********* being * ***** ****** ** ******* before ***** ******, ***** *** **** appears ** ** *** ****.
* **** **** **** **** ****** close ******* * ***** **'* ******** to ********* *** ** *** ****** culture... ********* **** **** ** **, but **** ******** ** **** **** by ***.
**** ********** **** * ******* ******* that *** ********* ****? *’** *** into **** *********** **** ****** *** convergint *** ****** ******** ** **** did *** **** ******* *****.
******* **** *** ********* ****?
****'* **** ** ****** **** * simple *** ** **. ******, **** Convergint ********* **** *** ******* *******. What ** ****** ** ********* ** how **** ** ******** **** ****. They *** **** ** **** (** least ****** ** ************) *** ****** gigantic *** * ******** **********, ** the ******** ** *** *** ***** you *** **** ** ******* ** signal * ******** ***** *** ****?
***** ******** ** ** ******** **** the ********** '*******' ***** *** ******* of **, **** *** ***** **** the ****** **** *** ****** *** by ***** *** **** ~* ***** ago?