AUSTIN, Texas, June 1, 2020 – Resideo Technologies, Inc. (NYSE: REZI), a leading global provider of home comfort and security solutions, today announced that Phillip Theodore will join the company as chief transformation officer, effective June 1, 2020.
Theodore brings more than 30 years of operational and transformation experience working across a broad array of industries. He will work closely with Resideo’s leadership team and its Board to advance Resideo’s Financial and Operational (F&O) review and execution, which includes revenue and gross margin growth, SG&A optimization and working capital management.
“Phil has a proven track record and expertise in transforming companies with complex, global operations,” said Jay Geldmacher, president and CEO of Resideo. “His insights will be invaluable as we execute our F&O review and continue to drive efficiencies and improve productivity across the company. He will be an integral member of my leadership team, and I look forward to working with him to build on Resideo’s progress and achieve sustained, profitable growth.”
“I’m competitive to my core personally as well as in business and believe Resideo has what it takes to win,” said Theodore. “The company has taken marked strides toward transforming itself over the last several months. With its trusted, best-in-class products, leading global distribution business and strong brand recognition, I believe the steps we’re taking today across Resideo will enable us to unlock long-term value for our shareholders.”
Michael Flink, Resideo’s executive vice president of transformation, will be moving into a newly created non-executive senior vice president role. He will report to Geldmacher and continue overseeing the execution of key projects and initiatives on behalf of the company.
Geldmacher continued, “I want to thank Michael for the critical role he has played at Resideo to date. In addition to supporting the company’s transformation efforts, the breadth of his global industry experience has been a tremendous asset to the company and will continue to be as he takes on his new role. We look forward to Phil and Michael's contributions to the success of the company in their new roles.”
About Phillip Theodore
Phillip Theodore is the founder and managing director of Ironhawk Advisory Group, a boutique investment advisory service firm. He previously served as interim chief executive officer of the Consumer Division of Artesyn Embedded Technologies, a Platinum Equity portfolio company. From 2017 to 2019, Theodore was also chief financial officer and acting chief operating officer of Artesyn’s Asia Pacific operations. Prior to joining Artesyn, he held various executive financial and operational leadership roles at global manufacturing and distribution companies. Theodore graduated with a Bachelor of Science degree in accounting from Saint John Fisher College and received an MBA from Owen Graduate School of Management at Vanderbilt University. Theodore has completed 15 Ironman races on four continents and has finished multiple 100+ mile ultra-marathons.
Resideo is a leading global provider of critical comfort, residential thermal solutions and security solutions primarily in residential environments. Building on a 130-year heritage, Resideo has a presence in more than 150 million homes, with 15 million systems installed in homes each year. We continue to serve more than 110,000 professionals through leading distributors, including our ADI Global Distribution business, which exports to more than 100 countries from more than 200 stocking locations around the world. For more information about Resideo, please visit www.resideo.com.
SOURCE Resideo Technologies, Inc.