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Nest CEO resigning as company looks for new direction

Tony Fadell is “leaving the Nest”.

In a blog post, he explained that he had been planning on transitioning out of his CEO position in the home IoT business for at least six months. He will remain at parent company Alphabet as an advisor to CEO Larry Page. Marwan Fawaz, formerly of Charter Communications and then-Google-owned Motorola, will replace Fadell as Nest chief.

Fadell claims 18,000 developers to Nest and availability at over 12,000 retail stores as signs that the company is in healthy form. Growth has been decent, but as previous reports have prodded, not as decent as Google would’ve liked to seen. Every so often, internal conflicts would spill out to the press. The former Dropcam CEO said that he did not like the way Nest handled the acquisition of his company.

In a statement, Larry Page said:

Under Tony’s leadership, Nest has catapulted the connected home into the mainstream, secured leadership positions for each of its products, and grown its revenue in excess of 50% year over year since they began shipping products. He’s a true visionary and I look forward to continuing to work with him in his new role as advisor to Alphabet. I’m delighted that Marwan will be the new Nest CEO and am confident in his ability to deepen Nest’s partnerships, expand within enterprise channels, and bring Nest products to even more homes.

Tony Fadell released a further statement, which reads in part:

After six years of working on Nest, leading it through 4.5 years of double-digit growth and consistently high marks from customers, I leave Nest in the hands of a strong and experienced leadership team, with Marwan at the helm and a well-defined, two-year product roadmap in place.

Google bought Nest for $3.2 billion back in 2014.

Source: Nest
Via: Engadget

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About The Author
Jules Wang
Jules Wang is News Editor for Pocketnow and one of the hosts of the Pocketnow Weekly Podcast. He came onto the team in 2014 as an intern editing and producing videos and the podcast while he was studying journalism at Emerson College. He graduated the year after and entered into his current position at Pocketnow, full-time.
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