SmartRent (SMRT) saw its shares plummet more than 21% in premarket trading today following the announcement of a major leadership change and the suspension of its full-year outlook.
The company revealed that Lucas Haldeman, the founder and CEO of SmartRent, has stepped down from his role 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. A Management Committee comprising current executives has been established to steer the company through this transition.
The company said it has initiated a search for a new CEO with the assistance of an executive search firm.
“SmartRent is a market leader with an outstanding suite of products, technology, and services that provide enormous value to our customers,” Dorman stated.
He acknowledged Haldeman’s contributions and added: “As we…
