Arlo Announces Changes to Executive Leadership Team to Drive Expansion of Consumer-Oriented, Services-First Strategy

Lisa Johnstone
2024-03-01T02:03:00+11:00

Samir Kapoor appointed Chief Technology Officer, bringing deep R&D experience and proven track record of driving growth and transformation in subscription service markets.

Arlo CFO Kurt Binder to step into additional role as Chief Operating Officer to drive additional scale and operational excellence for Arlo’s next stage of growth.

SAN JOSE, Calif. — February 29, 2024 — Arlo Technologies, Inc. (NYSE: ARLO), a leading, smart home security brand, announced today that it has appointed Samir Kapoor as Arlo’s Chief Technology Officer, effective March 11th. Additionally, Kurt Binder, Arlo’s Chief Financial Officer, will step into the additional role of Chief Operating Officer to support Arlo’s continued growth and focus on operational excellence.

Samir is a seasoned C-level technology executive with deep experience leading complex engineering organizations across hardware, software, and SaaS technology companies. With a proven track record of success at companies including Fitbit and Life360, where he also served as Chief Technology Officer, Samir’s appointment will further strengthen Arlo’s executive leadership team as it focuses on the acceleration of its services-first strategy.

“As Arlo looks forward to its next stage of growth, we are excited to welcome Samir into Arlo’s executive leadership as its new Chief Technology Officer,” said Matthew McRae, Arlo CEO. “Samir brings a proven track record of leading complex engineering organizations that bring together hardware, software, and services into a holistic, complete solution, and Samir is uniquely positioned to lean in and excel in this challenging role.”

Samir holds a Ph.D. in electrical engineering from the University of Notre Dame, an M.S. in engineering from Washington State University, an MBA from the University of Pennsylvania, and a B. Tech in Electrical Engineering from the Indian Institute of Technology Bombay.

“I am thrilled to join the Arlo leadership team and leverage my consumer-centric, services-first experience to accelerate the execution of Arlo’s services-first strategy, increase customer satisfaction, and maximize shareholder value,” said Samir Kapoor. “Throughout my engagement with the Arlo team, it became clear that the passion and commitment to deliver on the organization’s promise to Protect Everything is firmly rooted in Arlo’s culture of innovation, disciplined execution, and customer-centricity.”

McRae continued, “I have also asked Kurt Binder, our current CFO, to take on the additional role of Chief Operating Officer for Arlo. Since Kurt joined Arlo just over a year ago, he has been an instrumental leader, delivering on numerous financial and strategic initiatives. As COO, Kurt will support Arlo’s efforts to further scale its operational excellence and organizational efficiencies to drive our company to a new level with an all-important customer-centric, services-first mindset.”

About Arlo Technologies, Inc.

Arlo is an award-winning, industry leader that is transforming the ways in which people can protect everything that matters to them with advanced home, business, and personal security solutions. Arlo's deep expertise in AI- and CV-powered analytics, cloud services, user experience and product design, and innovative wireless and RF connectivity enables the delivery of a seamless, smart security experience for Arlo users that is easy to set up and interact with every day. Arlo's cloud-based platform provides users with visibility, insight, and a powerful means to help protect and connect in real-time with the people and things that matter most, from any location with a Wi-Fi or a cellular connection. To date, Arlo has launched several categories of award-winning connected devices, software, and services. These include wire-free, smart Wi-Fi and LTE-enabled security cameras, video doorbells, floodlights, security system, and Arlo's subscription services: Arlo Secure and Arlo Safe.

With a mission to bring users peace of mind, Arlo is as passionate about protecting user privacy as it is about safeguarding homes and families. Arlo is committed to implementing industry standards for data protection designed to keep users' personal information private and in their control. Arlo does not monetize personal data, provides enhanced controls for user data, supports privacy legislation, keeps user data safely secure, and puts security at the forefront of company culture.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:

This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. The words "anticipate," "expect," "believe," "will," "may," "should," "estimate," "project," "outlook," "forecast" or other similar words are used to identify such forward-looking statements. However, the absence of these words does not mean that the statements are not forward-looking. The forward-looking statements represent Arlo Technologies, Inc.'s (the "Company" or "Arlo") expectations or beliefs concerning future events based on information available at the time such statements were made and include statements regarding lowering the barrier of entry and broadening the market for DIT security and Arlo cameras, Arlo video doorbells, Arlo Secure, Arlo Secure Plus, and future Arlo products. These statements are based on management's current expectations and are subject to certain risks and uncertainties, including the following: future demand for the Company's products may be lower than anticipated; consumers may choose not to utilize payment plans or to adopt the Company's new product offerings, or may adopt competing products; and product performance may be adversely affected by real-world operating conditions. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. Therefore, actual outcomes and results may differ materially from what is expressed or forecast in such forward-looking statements. Further information on potential risk factors that could affect Arlo and its business are detailed in the Company's periodic filings with the Securities and Exchange Commission, including, but not limited to, those risk factors described in the Company's most recently filed Annual Report on Form 10-K and Quarterly Report on Form 10-Q and subsequent filings with the Securities and Exchange Commission. Given these circumstances, you should not place undue reliance on these forward-looking statements. Arlo undertakes no obligation to release publicly any revisions to any forward-looking statements contained herein to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.