SmartRent (NYSE:SMRT) stock is taking a beating on Tuesday after the company announced the departure of its CEO.
SmartRent’s Lucas Haldeman has resigned from his roles as CEO and on the Board of Directors at the company. This has John Dorman leading the company as it seeks a replacement. Dorman was also made Chairman of the Board.
Here’s what Dorman had to say about the change:
“On behalf of the full Board, I want to thank Lucas for his dedication to SmartRent, which he founded, took public, and built into the innovator and leader in smart home technology it is today. As we scale and mature the Company into a new phase of growth, the Board decided that SmartRent will benefit from a CEO with a different skill set and fresh perspective.”
More Bad News for SMRT Stock
Other changes at SmartRent include the suspension of its outlook for the full year of 2024. The company did this due to the CEO change, increasing market headwinds and the scaling back of its channel partner program.
SMRT stock is down 20.6% as of Tuesday afternoon. That comes with some 4.3 million shares traded, as compared to a daily average of 1.3 million shares.
Investors will want to keep reading for more of the most recent stock market stories!
We have all of the hottest stock market news that traders need to know about on Tuesday! Among that is a Microsoft (NASDAQ:MSFT) Office outage, Cassava Sciences (NASDAQ:SAVA) trial update and more. All of this news is ready at the links below!
More Stock Market News for Tuesday
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.
