10:01 AM EDT, 07/30/2024 (MT Newswires) -- SmartRent ( SMRT ) said Tuesday its Chief Executive Lucas Haldeman has stepped down from his role and resigned from the board, effective July 29.

The company has initiated a search for its next CEO, it added.

SmartRent ( SMRT ) also said it has appointed John Dorman as chairman of the board.

Additionally, the firm expects Q2 preliminary total revenue of $48.5 million. Analysts polled by Capital IQ expect $53.2 million. With the pending CEO transition, the company said it is suspending its prior full-year 2024 outlook.

SmartRent's ( SMRT ) stock fell 17% in recent early Tuesday trading.

Price: 1.99, Change: -0.41, Percent Change: -17.08