Vivint Smart Home announced founder and chief executive officer Todd R. Pedersen has decided to step down as chief executive officer of Vivint Smart Home, effective once the board of directors of the company appoints his successor. Mr. Pedersen will remain a member of the board of directors.
“I have decided that after 20 years of building a successful company, it is time for me to pursue my other entrepreneurial goals and devote myself to those investments and businesses,” Pedersen said. “I am proud of the company’s achievements since Vivint’s founding and remain excited about the performance and outlook as a premier smart home service provider. I believe the company is well positioned for success and I look forward to continuing to contribute to the company’s growth as a member of the board.”