SmartRent (SMRT) said Thursday that Shane Paladin stepped down as president, chief executive officer at the request of its board, effective immediately.
The company also said that on a preliminary basis, it expects Q1 revenue of $40.5 million to $41.5 million, down 18% to 20% compared with a year earlier. Two analysts polled by FactSet are expecting $40.1 million.
SmartRent said Chairman John Dorman was appointed as interim CEO and that Paladin will remain with the company as an advisor for three months to ensure a smooth transition, while the search process for a permanent CEO continues.
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