International. Resideo Technologies announced the appointment of Jay Geldmacher as president and CEO and member of the board of directors. Geldmacher succeeds Mike Nefkens, who announced his departure from the company in December 2019. This leadership transition is the result of a comprehensive search process and follows the company's recently announced changes, which included the addition of two new independent directors with substantial industry experience.
"Jay is the ideal CEO to lead Resideo," said Roger Fradin, Resideo's 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 technological expertise and, under his leadership, we expect the company to focus on providing world-class products and services for our customers. The board thanks Mike Nefkens for his contributions during the COVID crisis."
Fradin continued, "Jay joins Resideo at a major turning point, as we transform the business to better serve our attractive markets. With the board's support, we are confident that Jay will leverage his expertise to further transform the business, position the company to deliver improved operational and financial performance, and create significant shareholder value. We look forward to embarking on this exciting new chapter together."
Geldmacher said: "Resideo's strong product track record, important markets and long-standing relationships with its channel partners position it not only to compete, but also to win. I'm eager to build on the transformation that's already underway and excited to see what we'll do together as a team."
