Resideo Technologies announced some major changes to its organization this week, including the imminent replacement of company president and CEO Mike Nefkens.
According to a statement issued by Resideo, Nefkens and the company have mutually agreed that he will step away to focus on family health issues. Nefkens will remain in his position until a successor can be found. Andy Teich, Resideo’s lead independent director, will support Nefkens throughout the process and the company will conduct the search for its next leader in conjunction with Russell Reynolds Associates.
The company also stated it has created a “Strategic & Operational Committee focused on market strategy, gross margin improvement and G&A simplification.”
That group will conduct an operational and financial review, which was previously announced. Teich, who was president and CEO of Flir, before joining the Resideo board, will chair the committee, which is, according to a company statement, “designed to create a more efficient and profitable Resideo, building on the strength of its franchise.” The company also said it has retained supply chain and organizational excellence experts to aid in the review.
Finally, Resideo has appointed Brian Kushner as a new independent director. Kushner has served in C-level positions at more than 30 public and private companies. He is currently senior managing director and leader of the Private Capital Advisory Services practice at FTI Consulting.
Resideo was spun off from Honeywell as a separate company last year.