Jay Geldmacher has been appointed president and CEO of Resideo Technologies. Resideo Technologies (NYSE: REZI) has appointed Jay Geldmacher as president and CEO, and a member of its board of directors, effective May 28, 2020.
Geldmacher succeeds former President and CEO Mike Nefkens who announced he would be stepping down from his role in Dec. 2019. Resideo says this leadership transition is the result of a comprehensive search process and follows the company’s recently announced board changes, which included the addition of two new independent directors with substantial industry experience.
“Jay is the ideal CEO to lead Resideo forward,” says Roger Fradin, chairman of the board.
“Jay has a long history of operational excellence while delivering profitable growth and value creation in complex technology and manufacturing environments. Like Resideo, he combines an industrial heritage with innovative technology expertise, and under his leadership, we expect the company to refocus on providing world class products and services to our customers. The board is grateful to Mike Nefkens for his contributions during the COVID crisis.”
The company recently reported first-quarter revenues of $1.18 billion, a 3.8% decrease compared to year-ago revenues of $1.22 billion. Within those numbers, consolidated revenue for the ADI Global Distribution and Products & Solutions segments decreased 3% year-over-year on a GAAP basis and 2% year-over-year on a constant currency basis.
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