ADT has announced two changes to its executive leadership team.
Jeff Likosar has been named president, corporate development and chief transformation officer, after serving more than five years as ADT’s chief financial officer.
In this newly created role, the company says Likosar (pictured, left) will have responsibility for corporate strategy, business development, partnerships, pricing and product strategy, and organizational transformation.
Additionally, Ken Porpora has been promoted to executive vice president and chief financial officer, succeeding Likosar. Porpora has been with ADT for nearly 25 years, holding leadership roles across finance, sales, marketing and operations.
Porpora will have responsibility for all finance functions, including financial planning and analysis, treasury, operational finance, financial reporting, internal audit, tax, and investor relations.
“At our investor day in March we shared a bold and strategic long-term vision for ADT — a transformational plan that drives growth in revenue, earnings, and cash flows to strengthen our financial performance,” says ADT president and CEO Jim DeVries. “We have an extraordinary foundation in place, and the strength of our entire ADT leadership team positions us well to continue driving growth and delivering superior results.”
ADT also recently released its Q2 earnings report, which saw the company report its highest-ever recurring monthly revenue balance and an increase in residential installation revenue per unit thanks to its Google Nest partnership.