SmartRent Inc. (NYSE: SMRT), the Scottsdale, Arizona-headquartered provider of smart communities and smart operations solutions for the rental housing industry, announced the resignation of Shane Paladin as president, CEO and a director.
Paladin was named to the leadership role in January after serving as CEO Siteimprove, a private equity-backed marketing technology SaaS company. In a statement, the company said Paladin’s departure came “at the request of the board of directors,” although no specific reasons were given for this action. However, in the same statement SmartRent acknowledged the company “expects first quarter 2025 total revenue of $40.5-$41.5 million, a decrease of 18-20% from the same period last year.”
John Dorman, chairman of the board, has been appointed interim CEO and Alison Dean has been appointed lead independent director. Paladin will remain with the company in an advisory role for the next three months.
“I am confident that our executive leadership team and our entire organization will execute well and continue advancing our strategy as we navigate this transition,” said Dorman. “The board continues to believe that SmartRent has a tremendous opportunity in front of us, underpinned by our leading market position and the quality of our products and services. We have made great strides in transforming our organization and operations to get us where we need to be, and the board remains fully committed to SmartRent’s continued success and growth opportunities. We appreciate Shane’s cooperation in facilitating a smooth transition as we look for our next CEO.”
