Resideo Technologies, Inc. (NYSE:REZI) ("Resideo" or the "Company"), a leading global manufacturer, developer, and distributor of technology-driven sensing and controls products and solutions for residential and commercial end-markets, today provided an update on its planned spin-off of its ADI Global Distribution business ("ADI"), including:

(PRNewsfoto/Resideo Technologies, Inc.)

  • Filing of the Form 10 registration statement (the "Form 10") with the U.S. Securities and Exchange Commission ("SEC"), a copy of which is available on the SEC website as well as Resideo's Investor Relations website;
  • Announcing ADI's leadership team and Board of Directors;
  • Announcing Resideo's leadership team and Board of Directors;
  • Timing for Resideo and ADI Investor Day events in mid-July 2026; and
  • Expected timing for completion of the spin-off between mid-third quarter and mid-fourth quarter of 2026.

"Today's filing reflects the tremendous progress we have made to launch two industry-leading companies, each extremely well positioned to better serve customers and unlock shareholder value," said Jay Geldmacher, President and CEO of Resideo. "ADI's new leadership team and Board are a highly skilled and diverse group of individuals who will bring deep knowledge of ADI, cross-sector expertise and proven leadership that will help shape ADI's future. Similarly, we have a strong bench of talent at Resideo that will remain in place and lead the company forward following the separation."

Highlights from Form 10, ADI Leadership Team and Board of Directors

The Form 10 highlights how ADI will:

  • Leverage its preeminent platform position as a global specialty distributor of professionally installed low-voltage products servicing the commercial and residential markets through a leading omnichannel go-to-market platform.
  • Deliver on its distinct value proposition with over 500,000 products from more than 1,000 suppliers, curated through disciplined category management and reinforced by long-standing relationships with top suppliers and premier integrators, high product availability and superior technical sales support.
  • Drive sustained profitable growth and disciplined capital allocation to fund high-return investments and enable a balanced capital allocation approach that will initially be focused on deleveraging.
  • Expand upon its strong financial foundation. In fiscal year 2025, ADI on a carveout basis generated revenue of approximately $4.8 billion, $261 million net loss, $318 million in Adjusted EBITDA, 22.3% gross margin profit, 5.5% net loss margin, and 6.6% Adjusted EBITDA margin.1

The ADI leadership team will include the following individuals:

  • Robert Aarnes, President and Chief Executive Officer. Mr. Aarnes has served as President of ADI at Resideo since 2018.
  • Michael Carlet, Chief Financial Officer. Mr. Carlet has served as the Chief Financial Officer of Resideo since 2024 and previously served as the Chief Financial Officer of Snap One, which was acquired by Resideo in 2024.
  • Marco Cardazzi, Chief Merchandising Officer. Mr. Cardazzi has been with ADI since 2011 and currently serves as Chief Merchandising Officer and previously served as Chief Marketing Officer, Vice President of Global Marketing and held various leadership roles across merchandising, marketing, category management and products.
  • Alicia Copeland, Chief Operating Officer. Ms. Copeland has been with ADI since 2016, currently serving as Chief Operating Officer and previously as Chief Commercial Officer, Chief Transformation Officer, and Vice President of Global Operations.
  • Jeannine Lane, General Counsel, Corporate Secretary and Chief Compliance Officer. Ms. Lane has served as the General Counsel and Corporate Secretary of Resideo since 2018 and previously held various senior positions within Honeywell's legal department.
  • James Olender, Chief Information Officer. Mr. Olender joined ADI in 2026 as Chief Information Officer and previously held various executive roles within GE, including as Chief Information Officer of GE Vernova's Wind Segment, among others.
  • Nicole Stevens, Chief Accounting Officer. Ms. Stevens joined ADI in 2026 as Senior Vice President of Accounting, and previously served as SVP Financial Reporting at Amwins, Vice President of Financial Reporting at Snap One (prior to Resideo's acquisition) and at EY.

The ADI Board will be comprised of the following individuals:

  • Michael Kaufmann will serve as Chairman. Mr. Kaufmann previously served in numerous executive positions at Cardinal Health, including Chief Executive Officer and Chief Financial Officer, among others. He is a seasoned board member and currently serves on the board of MSC Industrial Direct.



     
  • Robert Aarnes will serve as a director, in addition to his role as President and Chief Executive Officer of ADI.



     
  • William Galvin has over 35 years of experience as a senior executive and leader in the industrial distribution and supply chain services sector. Mr. Galvin was most recently President and CEO of Anixter International, a global distributor of network and security, electrical and electronic and utility power solutions. He currently serves on the boards of Integrated Power Services and Engineered & Industrial Solutions. Mr. Galvin is an operating advisor of CD&R.
  • Christine Gorjanc is a financial expert who has served as Chief Financial Officer for various companies, including Invitae, Arlo Technologies and NETGEAR. She has held numerous public company board director roles, including as Audit Committee Chair, and currently serves on the boards of Polestar Automotive and Forward Air Corporation.
  • Cynthia Hostetler has 26 years of leadership experience managing large investment funds (with significant global markets investments), guiding institutional investors and allocating capital resources for businesses. She is an experienced board member and currently serves on several mutual fund boards, including as trustee of Invesco Funds, director of TriLinc Global Impact Fund and board member of Investment Company Institute. Ms. Hostetler has served as a director on the Resideo board since 2020 and effective upon the spin-off, she will resign from the Resideo board.
  • Stephen O. LeClair has decades of experience within the specialty distribution industry, including senior executive roles across operations, manufacturing, finance and sales. Mr. LeClair served as Executive Chair and Chief Executive Officer of Core & Main and previously held senior operations roles at HD Supply Waterworks, HD Supply Lumber and Building Materials, HD Supply and within GE Equipment Services. Mr. LeClair currently serves on the boards of Dycom Industries and AAON.
  • Nathan Sleeper is the Chief Executive Officer of CD&R and chairs the investment firm's executive committee and is a member of its investment, operating review and compliance committees. Mr. Sleeper has served on numerous public company boards and is currently a member of the Columbus McKinnon Corporation board. Mr. Sleeper has served as a director on the Resideo board since 2024 and effective upon the spin-off, he will resign from the Resideo board.
  • Brian Walker has extensive experience in the distribution sector and currently serves as Senior Vice President, Sales and Onsite Services of W.W. Grainger and previously held numerous leadership positions within its sales and supply chain functions.

Resideo Leadership Team and Board of Directors

The Resideo leadership team will include the following individuals:

  • Thomas Surran, President and Chief Executive Officer. Mr. Surran has served as President of Resideo's Products and Solutions business since 2023.
  • Joshua Foster, Senior Vice President, General Counsel and Corporate Secretary. Mr. Foster has served as Deputy General Counsel for Resideo since 2018 and previously spent over a decade at Honeywell in various capacities within the legal division.
  • Scott Harkins, Senior Vice President of Sales and Marketing. Mr. Harkins has served as SVP of Resideo's Global Sales since 2020 and previously spent over 20 years with Honeywell, including as Vice President of Partner Development for Honeywell Connected Home.
  • Amit Mehta, Senior Vice President of Strategy and Business Operations. Mr. Mehta has been with Resideo since 2019, and he will continue to lead strategy, corporate development and operational initiatives for Resideo.
  • Patrick Murray, Senior Vice President of Integrated Supply Chain and Information Technology. Mr. Murray has been Resideo's Senior Vice President of Global Operations and Supply Chain since 2018.
  • Ryan Strassburg, Senior Vice President and General Manager of Global Climate Solutions. Mr. Strassburg currently serves as Vice President and General Manager of Resideo's Global Climate Solutions business unit and previously held various leadership positions across Honeywell's sales, product management, and marketing teams.
  • Scott Ziffra, Senior Vice President of Engineering. Mr. Ziffra has served as Resideo's SVP of Engineering and Product Management since 2020.
  • Jeff Kutz, Senior Vice President and Chief Accounting Officer. Mr. Kutz will remain in his role as Resideo's Chief Accounting Officer.

With the assistance of a leading search firm, the Resideo Board has an active search process underway to identify its new Chief Financial Officer.

Upon completion of the spin-off, the Resideo Board of Directors will comprise ten directors:

  • Cynthia Hostetler, Nathan Sleeper and Jay Geldmacher will resign from the Board.
  • Andrew Campelli, a partner at CD&R, will be appointed to the Board.
  • Andrew Teich will remain in his role as Chairman and all other current Resideo directors will continue as members of the Resideo Board.
  • Mr. Geldmacher's retirement from Resideo will become effective upon completion of the separation, after which time, he will serve in an advisory capacity for six months.
  • Thomas Surran will be appointed as a director, in addition to his role as President and Chief Executive Officer.