Resideo CEO To Step Down

There may be family health issues, we do not know, though this is commonly used as a way to save face when executives are cut.

in the same way that final exam week at college has been linked to an increase in grandmother mortality, a sudden drop in share price may be linked to a CEO’s increased risk of familial health issues ;)

On YouTube now: Resideo LIVE is a two-hour immersive experience–a chance for you to hear an entirely new vision from Resideo executives of what’s to come in smart home technology and experience the breakthrough products and services that will make it all possible.

Stock price jumped 10% on the news:

Either investors are happy to hear about the CEO's family health issues or they are relieved to get a new CEO...

Predictable outcome for the CEO< stock dropping, lawyers after them, and treatment of the customer base, left you wondering who is making those decisions. But Resideo (where did that name come from?) Is saddled with 110 Million a year( Honeywell product liability lawsuits settlement payments) in payments to Honeywell , pension debts and a long in the tooth Vista product line all the while the cash cow, the 5816 ( wireless door contact) has dropped like a rock in price and most likely volume. Then you have dealers moving quickly to QolSys and 2 GIG, Plus ADI is no longer your exclusive distributor, they now sell the other guys ,as a ADI counter guy just said to me last week "who wants to sell Vista when he can sell Qolsys, I get paid the same either way".

But ask yourself when has an outsider been successful taking over and running a big company in this industry. Better get Ben Cornett back to fix this mess.

Now, Resideo's "President, Products & Solutions" has been demoted and removed from the Board, Resideo has disclosed:

Niccolo de Masi, the Company’s current President, Products & Solutions and Chief Innovation Officer, will continue to serve as Chief Innovation Officer, which will not be an executive officer position. Mr. de Masi resigned from the Company’s board of directors effective at the close of business on January 6, 2020.

His replacement is Sach Sankpal:

Sankpal most recently served as senior vice president for Emerging Industries at Trimble, Inc., a $3 billion in revenue company specializing in hardware and software for global industrial companies

Trimble consists of a variety of tech companies, though none I saw clearly have direct relevance or background to his new role on the security products side.

Resideo has a new CEO: Jay Geldmacher, quote:

As a 30-year industry veteran, Geldmacher brings to Resideo experience leading a complex industrial and technology spinout, Artesyn Embedded Technologies. Geldmacher has delivered consistent results in both public and private-equity backed companies, combining operational excellence with thoughtful capital allocation to gain market share and grow profits in competitive technology markets. Most recently, Geldmacher was president and CEO of Electro Rent Corp, a leader in testing and technology solutions.

He left Electro Rent after less than a year as CEO.