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: