Arlo Announces Changes in Executive Leadership to Further Streamline the Business and Increase Focus on Services
April 29 2020 - 06:48PM
Business Wire
- Gordon Mattingly appointed as Chief Financial Officer
- Dennis Aldover appointed as Vice President of Engineering
- Provides focus on the further acceleration of recurring
Services business
- Realignment of organization to further streamline the business
and drive cost optimization
Arlo Technologies, Inc. (NYSE: ARLO) announced today that
Christine Gorjanc, Chief Financial Officer (CFO), principal
financial officer and principal accounting officer of Arlo, will
retire from her role, effective June 15, 2020. Mr. Gordon
Mattingly, Arlo’s Senior Vice President, Finance since July 2018,
will take over Ms. Gorjanc’s roles, effective as of Ms. Gorjanc’s
retirement. Mr. Mattingly previously served in various senior
leadership roles in Finance and Operations at Netgear over the past
decade and was an instrumental part of the separation and launch of
Arlo. Ms. Gorjanc has agreed to remain in the CFO role until June
15 to ensure a smooth transition.
“During my time here, I have been impressed with the strategic
and technical expertise that Christine brings to her job and the
dedication she has for Arlo’s mission. It is equally clear that she
has built strong teams across the organizations she leads,” said
Matthew McRae, Chief Executive Officer. “I am extremely excited to
work closely with Gordon who has been involved in every aspect of
Arlo’s financial engagements since our IPO and will be an excellent
leader as we drive for profitability.”
“It has been my great honor to serve as Arlo’s CFO for 2 years
and NETGEAR’s CFO for 10 years, working alongside the talented team
we have in place across our CFO organization and Arlo at large.
Together, we’ve played a role in the important work Arlo does to
deliver security and peace of mind to people all over the world,”
said Ms. Gorjanc. “I am committed to working with Matt, the rest of
the leadership team and my colleagues over the coming weeks to
ensure that this transition process is a seamless one.”
In addition, Dennis Aldover has been appointed Vice President of
Engineering for Arlo. Mr. Aldover is one of the originators of the
technology stack that underpins Arlo’s award-winning products and
services and joined Netgear through an acquisition in 2006. Mr.
Aldover will bring a deeper focus on software and services as Arlo
Smart™ and Arlo SmartCloud™ continue to accelerate and drive
recurring revenue for the company. Dennis will take on the new role
on May 8, 2020, as Marcus Apitz leaves to pursue other
opportunities and spend more time with family.
“Mr. Mattingly and Mr. Aldover both understand Arlo’s strong
focus on operational discipline and will help provide aligned
leadership of our senior management team as we diversify the
business to capture growth opportunities, including extending the
SmartCloud platform to partners beyond our own camera ecosystem,”
said Mr. McRae.
The appointments from within Arlo show the strength and depth of
the management team and effectively flattens the organization. This
will further optimize the organization and continue Arlo’s focus on
reducing OPEX moving forward.
As previously announced, Arlo is reporting first quarter 2020
earnings results on May 11, 2020.
About Arlo Technologies, Inc.
Arlo is the award-winning, industry leader that is transforming
the way people experience the connected lifestyle. Arlo’s deep
expertise in product design, wireless connectivity, cloud
infrastructure and cutting-edge AI capabilities focuses on
delivering a seamless, smart home experience for Arlo users that is
easy to setup and interact with every day. The company’s
cloud-based platform provides users with visibility, insight and a
powerful means to help protect and connect in real-time with the
people and things that matter most, from any location with a Wi-Fi
or a cellular connection. To date, Arlo has launched several
categories of award-winning smart connected devices, including
wire-free smart Wi-Fi and LTE-enabled cameras, audio and video
doorbells, advanced baby monitors and smart security lights.
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995
This press release contains forward-looking statements within
the meaning of the U.S. Private Securities Litigation Reform Act of
1995. The words “anticipate,” “expect,” “believe,” “will,” “may,”
“should,” “estimate,” “project,” “outlook,” “forecast” or other
similar words are used to identify such forward-looking statements.
However, the absence of these words does not mean that the
statements are not forward-looking. The forward-looking statements
represent Arlo Technologies, Inc.’s expectations or beliefs
concerning future events based on information available at the time
such statements were made and include statements regarding the
expected timing of the CFO transition. Further, certain
forward-looking statements are based on assumptions as to future
events that may not prove to be accurate. Therefore, actual
outcomes and results may differ materially from what is expressed
or forecast in such forward-looking statements. Further information
on potential risk factors that could affect Arlo and its business
are detailed in the Company's periodic filings with the Securities
and Exchange Commission, including, but not limited to, those risk
factors described in the Company's Annual Report on Form 10-K for
the year ended December 31, 2019. Given these circumstances, you
should not place undue reliance on these forward-looking
statements. Arlo undertakes no obligation to release publicly any
revisions to any forward-looking statements contained herein to
reflect events or circumstances after the date hereof or to reflect
the occurrence of unanticipated events.
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version on businesswire.com: https://www.businesswire.com/news/home/20200429005955/en/
Media Relations: press@arlo.com 949-438-1088
Investors: Arlo Investor Relations Erik Bylin
investors@arlo.com
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