Arlo Announces Changes in Executive Leadership to Drive Growth and Further Expand Services
August 26 2022 - 4:30PM
Business Wire
- Kurt Binder appointed as Chief Financial Officer - Brings deep
experience in consumer, B2B, IoT and subscription services -
Strengthens the leadership team focused on Arlo’s Long-Range
Plan
Arlo Technologies, Inc. (NYSE: ARLO), a leading smart home
security brand, announced today that Gordon Mattingly, Chief
Financial Officer of Arlo, will resign from his role, effective
September 21, 2022, and Kurt Binder, CalAmp Corporation’s current
Executive Vice President and Chief Financial Officer, will take
over as Arlo’s Chief Financial Officer following Mr. Mattingly’s
departure, effective September 26, 2022.
Mr. Binder has spent the majority of his career in financial
leadership positions, including most recently as executive vice
president and chief financial officer of CalAmp Corporation, a
publicly traded provider of Internet of things (IoT) software
applications, cloud services, data intelligence, and telematics
products and services. Prior to CalAmp, Mr. Binder held significant
leadership positions in finance and business management having
worked extensively with multinational technology companies across
Europe, Asia, Latin America, and the U.S., including as chief
financial officer of VIZIO, Inc., a global consumer electronics
company, where he led VIZIO’s accounting and finance, human
resources and business planning teams. While at VIZIO Mr. Binder
was honored by the Orange County Business Journal as “CFO of the
Year” (2015). Prior to joining VIZIO in 2010, Mr. Binder was a
coordinating partner in the assurance practice of Ernst &
Young, LLP, where he gained over 10 years of experience advising
complex multinational companies across the globe. Mr. Binder began
his career with Price Waterhouse and holds a BBA in accounting and
an MBA in finance, both from Loyola University Maryland.
“Arlo is uniquely positioned to utilize its best-in-class
technology and cloud services platform to bring peace of mind to
homes and small businesses,” said Mr. Binder. “I am excited to join
the leadership team and leverage my IoT and SaaS background to
accelerate the execution of Arlo’s long-range plan and maximize
shareholder value creation. My interactions with the management
team and board throughout this process have reinforced my own view
of Arlo’s innovation, disciplined execution, and dynamic culture. I
look forward to bringing my experiences and leadership capabilities
to assist Arlo in achieving its long-term growth objectives.”
“Arlo could not have found a better fit to take over the CFO
role as Kurt brings extensive experience in every facet of our
business from electronic component supply chains, retail channel
execution, and hardware devices to cloud platforms, data
monetization, SaaS business models and accelerating subscription
revenues. He led a similar business transition at CalAmp while
showing a keen focus on operational costs and exceptional
engagement with the investor community,” said Matthew McRae, Chief
Executive Officer. “At the same time, we are saying goodbye to
Gordon who has been with NETGEAR and Arlo for 19 years and was
instrumental in transforming Arlo into a true services-first
company. He built a strong, experienced team and excellent
processes that will endure. I wish him success in his future
endeavors as we also look forward with excitement to Kurt filling
his role and helping us reach another level of success.”
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, software and
services, including wire-free smart Wi-Fi and LTE-enabled security
cameras, audio and video doorbells, a floodlight, the Arlo App, and
Arlo Secure, an AI-based subscription service designed to maximize
security through personalized notifications and emergency services
for quicker help during a crisis.
With a mission to bring users peace of mind, Arlo is as
passionate about protecting user privacy as it is about
safeguarding homes and families. Arlo is committed to supporting
industry standards for data protection designed to keep users’
personal information private and in their control. Arlo does not
monetize personal data. Arlo provides enhanced controls for user
data, supports privacy legislation, keeps user data safely secure,
and puts security at the forefront of company culture.
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 (the “Company”) expectations or
beliefs concerning future events based on information available at
the time such statements were made and include statements regarding
the Company’s long-range plan and the deployment of elements of
such long-range plan, future roles and contributions of the
Company’s leadership team, executive officers and the Company’s
potential future business, operating performance and financial
condition. These statements are based on management's current
expectations and are subject to certain risks and uncertainties,
including the following: deployment of elements of the Company’s
long-range plan may be delayed or may not occur; the deployment of
the brand awareness advertising campaign may be delayed or may not
occur and the risk that it may not drive incremental paid accounts;
routes to market may not materialize or prove as successful as
anticipated; future demand for the Company's products may be lower
than anticipated; the Company may be unsuccessful in developing and
expanding its sales and marketing capabilities; and product
performance may be adversely affected by real world operating
conditions. 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 the Company and its business are detailed
in the Company's periodic filings with the Securities and Exchange
Commission, including, but not limited to, those risk and
uncertainties listed in the section titled “Risk Factors” in the
Company's most recently filed Annual Report on Form 10-K and
Quarterly Report on Form 10-Q. Given these circumstances, you
should not place undue reliance on these forward-looking
statements. The Company 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.
Source: Arlo-F
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Media Relations: press@arlo.com 949-438-1088
Investors: Arlo Investor Relations Erik Bylin
investors@arlo.com
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