ADT takes on new vice president of IR
Experienced IRO Tim Perrott is set to join the ADT Corporation as its vice president of IR as the security electronics company gives it board a minor shake-up.
Perrott joins ADT from NII Holdings, where he has served since 2003 as vice president of IR and external communications. An ADT press release states that he will have responsibility for ‘communicating the company’s strategy, growth prospects and financial performance to investors and analysts.’
Among other distinctions, Perrott was recognized by Institutional Investor as a top IR professional after an expansive career as an IRO. Prior to working at NII, he was head of IR at Gilat Satellite Networks, Orbital Sciences Corp and Southern Company. Prior to this, he obtained a banking qualification from Auburn University and a master’s degree in business administration from the College of William and Mary in Williamsburg, Virginia.
Perrott will report directly to ADT’s CFO, Michael Geltzeiler, who describes the new IRO hire as ‘a world-class IR professional’.
‘He brings a wealth of relevant experience with spin-offs and subscriber-based revenue models,’ Geltzeiler continues. ‘He will be a great addition to our ADT team as we focus on executing our growth strategy and creating long-term shareholder value.’
Perrott, meanwhile, says he is looking forward to working as part of an exciting industry. ‘I was attracted to the company because of its market leadership position in a large and growing industry,’ he explains. ‘I’m thrilled to join ADT and look forward to working closely with the company’s investors and analysts.’
ADT is known as a producer of new and emerging technologies for use in home and small business security in the US and Canada. The firm – based in Boca Raton, Florida – is most famous for ADT Pulse, an interactive security system that can include remote-locked doors and camera feeds viewable through a smart phone.
The company currently serves more than 6 mn customers around the world and employs approximately 17,000 people. ADT is listed on the NYSE and has a current market capitalization of $7.9 bn.
It was also announced that ADT would appoint Richard Daly, CEO and president of Broadridge Financial Solutions, to its board of directors. Daly is described by Bruce Gordon, chairman of ADT’s board, as having ‘tremendous general management, corporate governance and financial expertise.’