Resideo CEO To Step Down
Resideo's CEO, Mike Nefkins, is stepping down, just 18 months after being brought in to lead the now plagued spin-out.
Inside this note, we examine the issues Resideo is facing and the future for the Honeywell Homes / ADI spinout.
Nefkens ****** *** ****
**** * **** *** * **** ago,******* *** ******* **** ********* ** **** *** ******* of *** ***** / *** **********.
*** ******** *** **** ******* *** no ********** ** **** ******** *** he *** **** ** ********* ** Hewlett ******* (***) *** *** **** of *** ********** **** **** ****-*** an *** ********. ****** ****** ******* Honeywell / *******, ******* *** *** by *** *******,********* ** *** ********.
Resideo ********
*******'* ***** *********** *** **** **********, as *** ***** ***** *****:
**** ********** ** *******, **** *** CFO ******** *** ****** ************** **** a **** ** ******** *** *********,******* *** ***** **** ******* **%(*** **** / **** ** *** right **** ** *** ***** *****).
* **** *** *** ******* ** at *** **** ****, ***** **** $115,000 ***** ***** ****.
Stepping ****
***, ******* ********* ** **** ****, **** *** ******* ****** '****** health ******':
*** *******’* ********* *** ***, **** Nefkens, *** *** ***** **** ******** agreed ** * **********, ***** **** allow **** ** ***** ** ****** health ******. ******* *** ****** ** continue ***** *** ********* ** *********, at ***** **** ** **** **** step **** **** *** ***** ** directors.
***** *** ** ****** ****** ******, we ** *** ****, ****** **** is ******** **** ** * *** to **** **** **** ********** *** cut.
**** ** ***** ** **** *** company's *********** *** ***** *********** ** unsatisfactory ** *********.
Homes ** *** ******** *****
******* ******** ** *** ******** ***** - ********* ***** *** ***. ***** there *** **** '*********' (*.*., *** sells **** ********* ***** ********), **** are ************* ********* ********** (******* ** distribution).
*** *******, *** ** ***** **** but ********* ***** ** ***. ********** ***** ******** ********* ***** ****** here.
What ****?
*** ********* ********* ** ***:
- **** **** ***** ** ******* **** experienced ** *** '*****' ******* ****? Per ***** *** **********, **** *** problems ************* *** ********** ** ******** out / ******* ***** ******* ***** independently **** *********.
- **** **** **** ** **** ***? Is *** ****** ** ******* * continued *********** ** *** *** ********* Homes ** **** **** **** ******* value ********** *** ***?
*******'* ****** ************** ** **** **** $1 *******, * *** ***** *** a $* ******* ****** ******* *******. The **** **** ** **** ** will *** ** **** **** ** improve ** **** * *** *****.
***** *** ** ****** ****** ******, we ** *** ****, ****** **** is ******** **** ** * *** to **** **** **** ********** *** cut.
** *** **** *** **** ***** exam **** ** ******* *** **** linked ** ** ******** ************* *********, * ****** **** ** ***** price *** ** ****** ** * CEO’s ********* **** ** ******** ****** issues ;)
**** *** ****** *** ****** ***** skeptically:
*** ******* * ****** ** *** original ****** ** **** **-**** ******* ******* ***** ** ** ******** ** this **********:
******* **** ** ********* ** **** Teich, *** *******’* **** *********** ********, through *** ********** ******.
***** **** **** ** **** ****.
* **** ** **** *** *********, and ** ******** ********* *** *** company **** ** **** **** ******* would ** **********. *******, *** **** hope **** *** *** ****** **** I *** *** ****** ** *** mail ****** **** ** ********* ******* (yes, **** ***** ******), *** ***** transferred ** *******.
*** ** ***** ***** *** ****** a *** ******* **** ****** ******* liabilities? **** ***** **** * ******* way ** ******** *** *** *******. Even ** **** * **** **** limited ** ********, ****-******* ****** ********* like ****** 😀, ** ***** **** a *** ****** ********.
*** ******* ** ******** ** ** allow *** *** ******* ** ** more ******. **** **** *'** *****, Residio *** *** *** "*********" *** bureaucracy ** * ***** *******, *** without *** **** ***** ** **** of * ***** *******, *** ********* **** ** ***** **** ****** pension ***********. *** **** *** ** hopefully * ********.
**** ****** **** *** ******* ** the *********** **** **** *********** ** preparation *** **********. *****.
**** ******* *** ***** ** **. This ****** ***'* **** ** ** retirement ****, *'* **** ********* **** I **** ***** **** * ******* with **** ** ***!
** ******* ***:******* **** ** * ***-**** ********* experience–* ****** *** *** ** **** an ******** *** ****** **** ******* executives ** ****’* ** **** ** smart **** ********** *** ********** *** breakthrough ******** *** ******** **** **** make ** *** ********.
***** ***** ****** **% ** *** news:
****** ********* *** ***** ** **** about *** ***'* ****** ****** ****** or **** *** ******** ** *** a *** ***...
*********** ******* *** *** ***< ***** dropping, ******* ***** ****, *** ********* of *** ******** ****, **** *** wondering *** ** ****** ***** *********. But ******* (***** *** **** **** come ****?) ** ******* **** *** Million * ****( ********* ******* ********* lawsuits ********** ********) ** ******** ** Honeywell , ******* ***** *** * long ** *** ***** ***** ******* line *** *** ***** *** **** cow, *** **** ( ******** **** contact) *** ******* **** * **** in ***** *** **** ****** ******. Then *** **** ******* ****** ******* to ****** *** * ***, **** ADI ** ** ****** **** ********* distributor, **** *** **** *** ***** guys ,** * *** ******* *** just **** ** ** **** **** "who ***** ** **** ***** **** he *** **** ******, * *** paid *** **** ****** ***".
*** *** ******** **** *** ** outsider **** ********** ****** **** *** running * *** ******* ** **** industry. ****** *** *** ******* **** to *** **** ****.
***** **** ******** *** *********** *** story!
******* (***** *** **** **** **** from?)
* ****** **'* * ********** ******** but **** ** **** *** ****** want ** ********* ********:
******* ** ***** **** *** *********** of *** ***** “*********” *** “********.” To ********* *** ********** ***********:
*********: * ******’* ****; *** ***** where ******* *****
********: * ********, * ********
********, ***** ***** ***** ******** ** safety, *******, ********, ********, *********** *** trust – ** * **** **** expresses *** ******** ** * ********** company. ***** *** ******** ******** **** are **** ** *** ******* ********, as **** ******* *** ***** ** the **** *** *** ********** ** keeping *** ***** ** *** ******** safe *** ***********.
**** ***** **** ***** **** *** king ******* (****, *** **** ******, the ***** **** ***** ******).
***** ******
****,****** *** **** *** ******** ** the ******* ***** ** ************* ****** **** ** ** **** guy ** ** **** ** ******** needs ** ******* *** ******* *** had ** **** ******** ** ***.
***** ****** ** * **** *******, talented ********* **** ***** ****** **** what ** *** ****** ********* ****** it. * ********* ******* *** *** years *** ****** *** *** ** one ****. ******* ***** *****, ** my *******, **** ******* *** ** chance, *** ********* *** *** **** any ****** ** **** ******** **** the *****. *** **** ****** ******, loss ** ****** *** ******** ************** , * *** **** ******* *** operational *** ****** ******** **** ****.
***** ******** *********** ***** ***** ********* got *********. ** **** **** ** rebuild *** ******* * **** ** engineers *** ********* ****** *** **** the ********* ** ******** **’* * very **** *******.
** ** **** **** *** ******** recently **** ** “** ** *** easy ***** * *********** ***** ****” one ******** ***** ** *** *** a ***** **** ** ****** *** have **** ****** *** * **** time, *** ***** ***** ******** ** the ****** * ********** ** *** is *** * ******* *********.
****** *** *** ******* ** ***** the **** **** ****. * ***** don’t **** *** **!!!
*****, ******, **** *******!
*** ***** ***** ******** ** *** number * ********** ** *** ** not * ******* *********.
***** *** ****! ******** ** *****,******* ********* ******** **** **********
*** ******* (***** *** **** **** come ****?)
**’* ***** *** *********** *****...
***, *******'* "*********, ******** & *********" *** **** demoted *** ******* **** *** *****,******* *** *********:
******* ** ****, *** *******’* ******* President, ******** & ********* *** ***** Innovation *******, **** ******** ** ***** as ***** ********** *******, ***** **** not ** ** ********* ******* ********. Mr. ** **** ******** **** *** Company’s ***** ** ********* ********* ** the ***** ** ******** ** ******* 6, ****.
*** *********** ****** *******:
******* **** ******** ****** ** ****** vice ********* *** ******** ********** ** Trimble, ***., *$* ********* ******* ******* ************ ** ******** and ******** *** ****** ********** *********
******* ******** ** * ******* ** tech *********, ****** **** * *** ******* have ****** ********* ** ********** ** his *** **** ** *** ******** products ****.
******* *** * *** ***: *** Geldmacher, *****:
** * **-**** ******** *******, ********** brings ** ******* ********** ******* * complex ********** *** ********** *******, ******* Embedded ************. ********** *** ********* ********** results ** **** ****** *** *******-****** backed *********, ********* *********** ********** **** thoughtful ******* ********** ** **** ****** share *** **** ******* ** *********** technology *******. **** ********, ********** *** president *** *** ** ******* **** Corp, * ****** ** ******* *** technology *********.
** **** ******* **** ********* **** * **** ** ***.
******* ************, ***.: ***** ***