SCOTTSDALE, Ariz. - Resideo Technologies, Inc. (NYSE: NYSE:REZI), a global provider of home comfort and security products, announced Thursday the planned retirement of its President and CEO, Jay Geldmacher, in 2025. Geldmacher will continue his leadership role until a successor is appointed and will then transition to a senior advisor position to ensure a smooth handover.
The company's Board of Directors has initiated a search for the next CEO with the assistance of a national executive search firm. Geldmacher expressed his pride in Resideo's achievements and his commitment to the company's growth until a new leader is selected.
Concurrent with the CEO transition, Resideo also revealed the appointment of Andrew C. Teich as Chairman of the Board, effective immediately. Teich succeeds Roger B. Fradin, who has stepped down but will remain as a consultant. Teich, with extensive experience in the industry, including a previous role as CEO of FLIR Systems (NASDAQ:FLIR), has been serving on Resideo's Board since the company's inception in 2018.
The leadership changes are part of Resideo's proactive succession planning and come at a time when the company has reported significant improvements in its financial profile and market expansion. The Board expressed confidence in the company's strategy and leadership team, emphasizing the goal of selecting a new CEO who will further advance Resideo's vision.
Resideo is recognized for its technology-driven products and solutions that enhance home comfort, safety, and energy efficiency. The company also operates ADI Global Distribution, a leading wholesale distributor of low-voltage products for the commercial and residential markets.
This announcement is based on a press release statement and contains forward-looking statements regarding the company's future, including the CEO transition and Resideo's growth prospects. Investors are cautioned not to place undue reliance on these forward-looking statements, which are subject to risks and uncertainties.
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