SmartRent CEO Lucas Haldeman Steps Down; Suspends FY24 Outlook

(RTTNews) - SmartRent, Inc. (SMRT) announced Tuesday a CEO transition plan under which Lucas Haldeman has stepped down from his position as Chief Executive Officer and resigned from the Board of Directors, effective July 29, 2024.

John Dorman, the Board's lead independent director, has been appointed Chairman of the Board, and the Board has formed a Management Committee of current executives to guide the Company through the transition period.

The Board has initiated a search to identify the next CEO of SmartRent and is working with a leading executive search firm to assist in the process of identifying and evaluating candidates.

On a preliminary basis, the Company also said it expects second quarter 2024 total revenue of $48.5 million, a decrease of 9 percent from the same period last year and slightly below the guidance range of $49 million to $55 million.

In light of the pending CEO transition, the scaling back of SmartRent's channel partner program and continued, increasing market headwinds, including known and anticipated customer capital spending delays, the Company is suspending its previous guidance for full-year 2024.