Arlo Technologies, Inc. (NYSE: ARLO) announced today that Christine Gorjanc, Chief Financial Officer (CFO), principal financial officer and principal accounting officer of Arlo, will retire from her role, effective June 15, 2020. Mr. Gordon Mattingly, Arlo’s Senior Vice President, Finance since July 2018, will take over Ms. Gorjanc’s roles, effective as of Ms. Gorjanc’s retirement. Mr. Mattingly previously served in various senior leadership roles in Finance and Operations at Netgear over the past decade and was an instrumental part of the separation and launch of Arlo. Ms. Gorjanc has agreed to remain in the CFO role until June 15 to ensure a smooth transition.
“During my time here, I have been impressed with the strategic and technical expertise that Christine brings to her job and the dedication she has for Arlo’s mission. It is equally clear that she has built strong teams across the organizations she leads,” said Matthew McRae, Chief Executive Officer. “I am extremely excited to work closely with Gordon who has been involved in every aspect of Arlo’s financial engagements since our IPO and will be an excellent leader as we drive for profitability.”
“It has been my great honor to serve as Arlo’s CFO for 2 years and NETGEAR’s CFO for 10 years, working alongside the talented team we have in place across our CFO organization and Arlo at large. Together, we’ve played a role in the important work Arlo does to deliver security and peace of mind to people all over the world,” said Ms. Gorjanc. “I am committed to working with Matt, the rest of the leadership team and my colleagues over the coming weeks to ensure that this transition process is a seamless one.”
In addition, Dennis Aldover has been appointed Vice President of Engineering for Arlo. Mr. Aldover is one of the originators of the technology stack that underpins Arlo’s award-winning products and services and joined Netgear through an acquisition in 2006. Mr. Aldover will bring a deeper focus on software and services as Arlo Smart™ and Arlo SmartCloud™ continue to accelerate and drive recurring revenue for the company. Dennis will take on the new role on May 8, 2020, as Marcus Apitz leaves to pursue other opportunities and spend more time with family.
“Mr. Mattingly and Mr. Aldover both understand Arlo’s strong focus on operational discipline and will help provide aligned leadership of our senior management team as we diversify the business to capture growth opportunities, including extending the SmartCloud platform to partners beyond our own camera ecosystem,” said Mr. McRae.
The appointments from within Arlo show the strength and depth of the management team and effectively flattens the organization. This will further optimize the organization and continue Arlo’s focus on reducing OPEX moving forward.
As previously announced, Arlo is reporting first quarter 2020 earnings results on May 11, 2020.
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, including wire-free smart Wi-Fi and LTE-enabled cameras, audio and video doorbells, advanced baby monitors and smart security lights.
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 expectations or beliefs concerning future events based on information available at the time such statements were made and include statements regarding the expected timing of the CFO transition. 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 Arlo and its business are detailed in the Company’s periodic filings with the Securities and Exchange Commission, including, but not limited to, those risk factors described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019. Given these circumstances, you should not place undue reliance on these forward-looking statements. Arlo 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.