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ADT promotes current president Jim DeVries to CEO

ADT promotes current president Jim DeVries to CEO
ADT, a provider of monitored security and interactive home and business automation solutions in the United States and Canada, has announced that Jim DeVries, currently president of ADT, will be promoted to Chief Executive Officer to succeed Tim Whall, who will be retiring on November 30, 2018 after a decades-long career in the security industry. DeVries will be appointed to the company's Board of Directors following the transition. Whall will remain on the company's Board and serve as an advisor to the company.

"The company has strengthened its core operations and is successfully executing on its strategy, and both the Board and I believe that now is the right time to initiate this transition of leadership responsibilities," said Whall. "Jim DeVries has led many of the company's recent operational and strategic improvements as Chief Operating Officer and President, making him well-positioned to succeed me as Chief Executive Officer. Today the fundamentals of our business are strong and I am confident that under the leadership of Jim and the current management team, ADT will continue to perform and deliver on its long-term growth plans."

Marc Becker, Chairman of the ADT Board of Directors stated, "As President, Jim has demonstrated his deep understanding of the dynamics of our business and what it takes to win in the marketplace. Leveraging his strengths, including developing strategic partnerships, Jim is well suited to lead the company's efforts to drive innovation, expand market share and create shareholder value. The Board expects the transition to be seamless and efficient, and with a world-class leadership team in place we will continue to build on our efforts to grow the business in a disciplined manner."

"On behalf of the Board and the company, I want to thank Tim for his many contributions to ADT," Becker continued. "Tim is a thirty-year pioneer in the security alarm sector, and over the past two years, has led the effective transformation of ADT operationally and allowed the company to deliver an enhanced customer experience through faster service delivery and higher quality customer care, while reducing costs and customer attrition. Through this laser focus on customer service and retention, as well as a more disciplined and robust customer acquisition strategy, Tim and the ADT team have positioned the business for continued strength and value creation."

Jim DeVries said, "I am honored to have the opportunity to lead this talented team as we continue to drive operational excellence with the customer as our true north. Together, we will execute our strategies to innovate the customer experience, enhance our service capabilities, and deliver value for all stakeholders. ADT, including our dealer partners, has an exciting future ahead and I am energized by the opportunity to further establish the company as an innovative leader. I look forward to working closely with Tim to ensure a seamless transition."

Jim DeVries joined ADT as Chief Operating Officer in May 2016 and has served as President since September 2017. Prior to joining ADT, Jim held senior leadership roles at leading companies in the insurance, financial services and telecommunications industries, including most recently as Executive Vice President for Allstate Brand Operations. Before joining Allstate, he was Senior Vice President of Human Resources at the Principal Financial Group and Vice President for Corporate Services and Human Resources at Ameritech's Monitoring and Security Services Division. Earlier in his career, he held management roles at Quaker Oats, and Leaf and Andrew Corporation. He received a bachelor's degree from Trinity College, a master's degree from Loyola University, and an MBA from the Kellogg School of Management at Northwestern University.

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