Netgear (NTGR) has released an update to notify the public and investors about its officers.
Patrick Lo announced his retirement as CEO and Chairman of the Board of the company, with CJ Prober appointed as his successor effective January 31, 2024. Lo will serve as a consultant during the transition period until July 31, 2024, with a monthly consulting fee and additional financial benefits. Prober, previously President of Life360 and CEO of Tile, will receive a base salary, annual bonuses, and equity awards, with specific terms outlined in his offer and severance agreements, including provisions for severance payments under certain conditions.
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For a comprehensive understanding of the announcement, you can read the full document here.
