Resideo Technologies appoints Jeffrey Kutz as chief accounting officer

Resideo Technologies (NYSE:REZI) announced the appointment of Jeffrey Kutz as Senior Vice President and Chief Accounting Officer, effective Monday. The company stated that Mr. Kutz, age 65, succeeds Chief Financial Officer Michael Carlet, who had been serving as the company’s principal accounting officer.

According to a press release statement, Mr. Kutz most recently served as Vice President, Chief Accounting Officer at Quaker Chemical (NYSE:KWR) Corporation since January 2024. Before that, he held various financial roles at Air Products and Chemicals (NYSE:APD), Inc. from 2015 to December 2023, including Vice President, Corporate Controller and Principal Accounting Officer since May 2022. Mr. Kutz is a Certified Public Accountant and holds a Bachelor of Science in Accounting and a Bachelor of Arts in Economics. He joins Resideo at a time when InvestingPro analysts expect the company’s net income to grow this year, with the company maintaining strong operational performance and an EBITDA of $774 million in the last twelve months.

Under the terms of his offer letter, Mr. Kutz will receive an initial annual base salary of $425,000 and a target annual incentive award equal to 50% of his base salary. Beginning with fiscal 2026, he will be eligible for annual equity awards with a target grant date value of $425,000. Mr. Kutz will also receive an initial sign-on restricted stock unit award valued at $650,000, vesting in three equal installments on the first, second, and third anniversaries of the grant date, and a cash sign-on bonus of $120,000, subject to repayment if he resigns before completing two years of employment. The stock-based compensation comes as Resideo trades at a relatively high P/E ratio of 78.7, reflecting market expectations for future growth.

Mr. Kutz will participate in the company’s Severance Pay Plan for Designated Officers. If involuntarily terminated without cause, other than in connection with a change in control before his second anniversary, he will be eligible for enhanced severance, including two years of base salary continuation, two times his target annual incentive award paid over the same period, and accelerated vesting of all unvested equity awards.

This information is based on a statement from a press release and details disclosed in a filing with the Securities and Exchange Commission.

In other recent news, Resideo Technologies reported impressive financial results for the first quarter of 2025, exceeding earnings forecasts. The company achieved an adjusted earnings per share (EPS) of $0.63, significantly surpassing the anticipated $0.28. Revenue for the quarter reached $1.77 billion, slightly above the projected $1.75 billion. These results highlight the company’s strong performance and have been met with positive investor sentiment. While the earnings and revenue figures were the most notable developments, there were no recent announcements regarding mergers or acquisitions. Analyst reactions to these results have not been explicitly detailed in recent reports. Overall, these developments reflect the company’s robust financial health during the first quarter.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.