Resideo Technologies has announced that its president and CEO, Jay Geldmacher, plans to retire from his executive and Board positions in 2025. Geldmacher will remain in his current role until a successor is appointed, after which he will step down from the Board and transition to a senior advisor role to ensure a smooth handover.

The company said the announcement is part of its active succession planning process. The Board has engaged a nationally recognized executive search firm to assist in the process of identifying and evaluating qualified candidates.

“It has been my privilege to be a part of Resideo and I look forward to continuing to serve the company and its stakeholders until my successor is named. I am proud of the company’s achievements, and I want to express my deepest gratitude to the Resideo team,” Geldmacher stated. “Over the past four years, we have refocused our product portfolio, substantially improved the cash flow and financial profile of the company, made two transformational acquisitions, entered new markets, and accelerated our new product introduction cadence. All of this has created a foundation for future revenue and earnings growth.”

Andrew Teich, the incoming chairman of Resideo's Board of Directors, praised Geldmacher for his teamwork in the boardroom and effective leadership in enhancing the company's operations, which he believes have significantly strengthened Resideo's prospects for sustained, profitable growth.

“The Board remains fully confident in the company’s strategy as well as its senior leadership team,” Teich said. “Through our ongoing succession planning, the Board is committed to appointing a new CEO who will continue to drive our ambitious vision forward.   We greatly appreciate Jay's support in ensuring a smooth transition.”

Chairman of the Board Change

Resideo also announced, effective Nov. 7, that Teich, a board member and current vice-chair has been named as Chairman of the Board, succeeding Roger Fradin who stepped down from the Board after having served as Chairman of the Board since 2018. Given his long history with the company, Fradin will continue to advise Resideo in a consulting capacity, leveraging his extensive and relevant industry and operational experience.

Teich previously served as Resideo's lead independent director from 2019 through June 2023, and currently serves as the chair of the innovation and technology committee and as a member of the nominating and governance and compensation and human capital management committees.

Prior to joining Resideo’s Board, Teich served as president and CEO and a member of the Board of Directors of FLIR Systems from 2013 to 2017.  Teich has served as the Chairman of the Board of Directors of Sensata Technologies, a publicly traded global industrial technology company, since July 2019.