Fullerton Out At Vicon

By: John Honovich, Published on Aug 05, 2016

One of the biggest names in the industry, Eric Fullerton, has resigned as Vicon CEO.

Just shy of two years ago, Fullerton left Milestone to take the daunting task of turning the embattled Vicon around.

Inside, we examine the move, what it means for Vicon and the industry.

*** ** *** ******* names ** *** ********,**** *********, *** ******** ** Vicon ***.

**** *** ** *** years ***,********* **** ********* ** take *** ******** ****** ******* *** ********* Vicon ******.

******, ** ******* *** move, **** ** ***** for ***** *** *** industry.

[***************]

Resignation ************

**** ** ********* ************, *** ******* ********* a *** *******:

** ****** *, ****,**** ****************** *** *********** ** the ***** ********* ******* and ** * ******** of ***** **********, ***. (the “*******”), *** ******** the ******* **** ****** 5, **** ***** ** his **** *** ** employment **** *** *******.

** ****** *, ****, the *******’* ***** ** Directors ************* *. ******* ***** ** *** Company’s ******* ***** ********* Officer. **. *****, **, has ****** ** *** Company’s ****** **** *********, Finance ***** *** ****, and ** *** ***** Financial ******* ***** ******** 1999. **. ***** **** continue ** **** **** offices ***** ******* ** Interim ***** ********* *******. 

Vicon ********

***** ********* ** **** that:

**** *** ******* ** resign **** *** ******* for ******** *******. ** most ****** *** *****, Eric *** * ****** Winery *** *** ******* to ******** *** **** attention ** *** ******** and *** ******. ** currently ********** ** ****** in *** ********* ********** direction *** *** *******'* experienced ********** **** ********* to ** ******* ** its ******** *** *** platform ******. ** **** Eric *** **** ** luck **  *** ******** and ***** *** ********** in ******** *** ******* through * **** *********** post ********** ****** ******.

**** **** ********** **** they **** ******* ***** the ******** *** ****** at **** *** **** the ***** **** ******* * full *** ******.

********* *** *** * West ***** **** ******** for **** ***** (********* *****) ****** ******* *** NY ************* *****. ** have *** ****** *** feedback **** ********* ***.

Long *******

****** ********* **** ****, Vicon *** **** ********* from * ****, ******* decline. *** ******* *** once * ******, **** financially *** ******* **** in *** ***** ****** era *** *** ********* to ********** / ******* / ***** ** *** industry.

******* ********* *** ******** shocking, ***** *****'* ********* and *********'* ********** *** at *********, *** ** the ********'* ******* *****.

Progress ***** ****

** *** ******** ***** made ** ***** ****** Fullerton's ****** * **** tenure. ** *** **** to***** ** * ****** of *********** ********* *********, ***** *** ******* considering *****'* ********** *** a **** ** *********'* influence. **** **** **** redoing ***** ***, *********** IQinVision *** ********* ** access ******* ********.

** ** *** **** enough ***** *****'* ********* to **** *** ****** of **** ****, *** given *** **** ********* starting ********, ******** ****** significant.

Tough ******, ** ***

**** ****** ***** *** now ** *******. **** **** struggled *** ** **** and *** **** ******* major *******, ***** **** likely ***** **** ***** employees ** *****.

*** ****** ** ** sell *** ******* *** who ***** *** ***** in *** *****? *** valuation ** *** (***** $10 ******* *** ******** to ~$** ******* *** revenue) *** *** **** of *** **** ********** profits ** ****.

Infinova ***********?

** *** *** ** 2015,******** ********* *.*% ** Vicon. ******** **** **** a ***** ****** ** buying ***** ************ *********, completely *********** ****************. *******, **** ** those ********* *** ***** operations ***** ***** ** a ********** ** ****. On *** ***** ****, Infinova ***** ** **** to ***** ***** *** incorporate ** **** *** other ********.

Vote - *** ** *****?

Comments (11)

Also, Vicon's stock movements over the past month are highly atypical, here's the chart:

Notice that twice in July the stock roughly doubles in a single day but that yesterday the stock did not move at all even with Fullerton's resignation.

There was no public news that we can match to these movements though perhaps someone expects a buyout to occur, driving the price up. Anyone with theories or info, please share.

The July movement could have been partly attributed to Dallas and the DNC. For some reason this website listed Vicon as a company to watch after the Dallas shootings.

The late July bump coincides with the DNC.

Avigilon and Axis both had similar stock bumps around the same date ranges. Those were much smaller, and stood out less, but those companies are also far less volatile than Vicon, which was trading under $1/share.

Good catch. I'd say it's more than just a coincidence, the article came out on the 8th and the stock doubled on the 8th, on 8 million shares...

Update:

Vicon responded to IPVM:

Eric has decided to resign from the Company for personal reasons. As most people are aware, Eric has a family Winery and has decided to dedicate his full attention to the business and his family. We currently anticipate no change in our strategic technology direction and the Company's experienced management team continues to be focused on its upcoming new VMS platform launch. We wish Eric the best of luck in his business and value his leadership in steering the Company through a very challenging post IQinVision merger period.

Unpredicted...

Giving a job to a new CEO at the precise moment when he no longer needs a job at all (possibly), can lead to unpredictable results. After a couple of months on the job you will notice all sorts of 'windows' opening up...

Ok, 1, take your bow...

I am still surprised by the abruptness of this. Leaving without a transition plan is bad, obviously so to the point that it opens the question of what else is wrong here.

With the lackluster financial results, maybe the Vicon board wanted him out and hoped for a transition period, and he chose to resign instead?

Their calendar Q1 2016 financial results were poor:

Eric Fullerton, Vicon’s CEO said, “The Company’s financial results for the quarter were very disappointing and included a $6 million write off of goodwill originating from the August 2014 IQinVision business combination. Revenues declined 22% to $8.0 million for this historically weak quarter as the Company experienced issues with certain of its camera product lines and a delay in receipt of certain key project orders. Although we have taken steps to correct these issues, their impact may linger through the balance of this fiscal year.

Calendar Q2 results have not been released yet.

...maybe the Vicon board wanted him out...and he chose to resign instead.

Sour grapes? ;)

as an ex vicon employee I'm not surprised it was unable to hold on to genuine talent. For over a decade the business on both sides of the Atlantic has been run by inflexible out-of-touch bean counters and lost track of the dynamic changes in the industry. Their camera products are 'me too' and their VMS is quirky and 10 years out of date. Hard to see a future for them

Vicon launches both old CEO and new VMS in the same week.

Login to read this IPVM report.
Why do I need to log in?
IPVM conducts unique testing and research funded by member's payments enabling us to offer the most independent, accurate and in-depth information.

Related Reports on VMS

Axis HD Analog Encoder Tested on Oct 11, 2019
Two years after declaring "Everything is IP", Axis has released their first HD analog encoder, the P7304, with support for AHD, CVI, TVI, and SD...
Network Optix NxWitness 4.0 Tested on Oct 10, 2019
Network Optix released Nx Witness 4.0, proclaiming new features like a deep learning analytics metadata SDK, increased H.265 support, and UX...
Crisis At China's Largest VMS Provider, Netposa, Now State-Controlled on Oct 07, 2019
NetPosa, which bills itself as the PRC's largest VMS provider, is in a crisis. The firm is pursuing huge unpaid bills from clients, and its...
Vivotek 4K S-Series Camera Tested on Sep 30, 2019
Vivotek's highest-end S-series camera claims "Supreme Night Visibility", "Smart IR II", "Smart Stream II", "WDR Pro for unparalleled visibility in...
RealNetworks SAFR Facial Recognition Profile on Sep 25, 2019
RealNetworks entered the surveillance market by giving away their analytics to schools for free, and is now targeting large commercial users with...
Hikvision Acusense Analytics Tested on Sep 23, 2019
Hikvision touts "The Magic Behind It All" in their new Acusense line are 'deep learning algorithms' inside these cameras and recorders. But how...
Axis Perimeter Defender Improves, Yet Worse Than Dahua and Wyze on Sep 19, 2019
While Axis Perimeter Defender analytics improved from our 2018 testing, the market has improved much faster, with much less expensive offerings...
Directory of 70 Video Surveillance Startups on Sep 18, 2019
This directory provides a list of video surveillance startups to help you see and research what companies are new or not yet broadly known. 2019...
Vivotek "Neural Network-Powered Detection Engine" Analytics Tested on Sep 17, 2019
Vivotek has released "a neural network-powered detection engine", named Smart Motion Detection, claiming that "swaying vegetation, vehicles passing...
Panasonic 4K Camera Tested (WV-S2570L) on Sep 13, 2019
Panasonic has released their latest generation 4K dome, the WV-S2570L, claiming "Extreme image quality allows evidence to be captured even under...

Most Recent Industry Reports

US DoD Comments on Huawei, Hikvision, Dahua Cyber Security Concerns on Oct 16, 2019
A senior DoD official said the US is "concerned" with the cybersecurity of Hikvision, Dahua, and Huawei due to "CCP" (China Communist Party)...
Pelco Sarix Pro3 Camera Tested on Oct 16, 2019
Pelco has released their Sarix Professional Series 3 cameras, claiming "more security detail in challenging scenes with excellent low light and...
IPVM Camera Calculator User Manual / Guide on Oct 16, 2019
Learn how to use the IPVM Camera Calculator. The guide below includes instructions, images, gifs, and videos demonstrating and explaining the...
Altronix Claims Tango 'Eliminates Electricians' on Oct 15, 2019
Power supply provider Altronix claims its new Tango power supply 'eliminates the need for an electrician, dedicated conduit and wire runs'. In...
Pelco CEO Out, Seeking New Industry CEO, New CEO Found on Oct 15, 2019
Just 2 months after Pelco was sold, Pelco's CEO is out, with Pelco bringing in an outside President and searching for a new CEO from the industry,...
Hikvision Dissolves North American Business Unit, Splits Canada and USA on Oct 15, 2019
Hikvision has dissolved its North American Business Unit, splitting up US and Canada operations as the PRC-government owned manufacturer faces...
Camera Focusing Tutorial on Oct 14, 2019
Camera focus is fundamental to quality imaging. Mistakes can significantly reduce details, making cameras less effective. In this guide, we...
"UL Has Blood On Their Hands" Alleges The Interceptor / Keith Jentoft on Oct 14, 2019
"UL has blood on their hands" alleges Keith Jentoft of "The Interceptor Project". We examined The Interceptor in-depth last year, see: The...
Access Control Course Fall 2019 - Last Chance on Oct 14, 2019
Register Now - Fall 2019 Access Control Course. Thursday, October 17th is the last day to register. IPVM offers the most comprehensive access...
Axis HD Analog Encoder Tested on Oct 11, 2019
Two years after declaring "Everything is IP", Axis has released their first HD analog encoder, the P7304, with support for AHD, CVI, TVI, and SD...