Resideo has announced its intention to spin-off the ADI business, creating two independent public companies: ADI Global Distribution (including Snap One) and Products & Solutions, which will continue to operate as Resideo
Jay Geldmacher, Resideo’s President and CEO, said: “At Resideo, we have instilled strong operational discipline across the enterprise, resulting in independence for each of ADI and P&S. Through continued growth and investment, ADI and P&S are leading players in their distinct areas – ADI as a global wholesale distributor of low-voltage products including security and audio-visual solutions, and P&S as a building products manufacturer focused on residential controls and sensing solutions. We believe a separation is the next, most natural step, allowing ADI and P&S the opportunity to unlock their full potential and better serve all our stakeholders.
“ADI and P&S will continue to be led by Rob Aarnes and Tom Surran, both of whom will be able to execute their respective strategies with greater focus, agility and tailored resources. The entire Resideo team is the backbone of these businesses, and with their continued support and dedication, we are more confident than ever in the future success of each organisation.”
In light of the announcement, Jay Geldmacher’s previously announced retirement will now become effective upon completion of the separation, after which time, he will serve in an advisory capacity for six months. Following the separation, Tom Surran, President of P&S, and Rob Aarnes, President of ADI, will continue leading Resideo and ADI, respectively. Additional corporate governance details for Resideo and ADI will be disclosed in the coming months, and all appointments are subject to Board approval.
