Andrew Teich
RESIDEO TECHNOLOGIESAbout Andrew Teich
Andrew Teich, 64, is Resideo’s independent Chairman of the Board (appointed November 2024) and a director since 2018, with 40+ years in product and technology innovation spanning imaging, sensing, AI, energy conservation, automation and MEMS, and extensive governance experience at executive and board levels . He previously served as CEO of FLIR Systems and is currently a private technology consultant; he is listed as an author on 50+ U.S. and international patents, holds a B.S. in marketing from Arizona State University, and is an alumnus of Harvard Business School’s Advanced Management Program . He has served as Lead Independent Director of Resideo’s Board and brings proven M&A execution (25+ acquisitions) and growth credentials (helped grow FLIR’s market cap from ~$60 million to >$6 billion) .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| FLIR Systems, Inc. | Chief Executive Officer and President | 2013–2017 | Led diversification across visible, radar, sonar, near IR, and CBRNE; executed 25+ acquisitions; grew market cap from ~$60M to >$6B |
| FLIR Systems (post-Inframetrics acquisition) | Various executive roles (e.g., President, Imaging Division; President, Commercial Vision Systems & Thermography) | 1999–2013 | Expanded technology and market scope across defense, industrial, and commercial applications |
| Private technology consulting | Consultant | 2017–present | Focused on imaging, sensing, AI, energy efficiency, automation, and MEMS |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Sensata Technologies Holding PLC | Chairman of the Board | Current | Current outside public directorship; chairs the board |
| Juniper II Corp. | Director | 2021–2023 | Former public company directorship (SPAC) |
| FLIR Systems, Inc. | Director | 2013–2017 | Former public company directorship |
Board Governance
- Independence: Independent Chairman; Board separates the roles of Chairman and CEO; 10 of 11 directors are independent under NYSE standards .
- Committee assignments: Chair, Innovation & Technology; Member, Compensation & Human Capital Management; Member, Nominating & Governance .
- Committee meetings (2024): Audit 7; Compensation & HCM 6; Nominating & Governance 7; Finance 13; Innovation & Technology 5 .
- Board attendance: Board met 8 times in 2024; each director attended at least 75% of Board and committee meetings where they served .
- Compensation Committee interlocks: None—no current Committee member served as an officer of Resideo and no interlocking relationships disclosed .
- CD&R board designees: As part of the Snap One acquisition and CD&R preferred investment, CD&R may designate directors (current designees: Nathan Sleeper and John Stroup), subject to ownership thresholds and standstill/transfer restrictions, which the Nominating & Governance Committee oversees within governance policies .
Fixed Compensation
| Element (Directors) | Amount | Notes |
|---|---|---|
| Annual Board cash retainer (member) | $90,000 | Paid quarterly; no meeting fees |
| Chairman of the Board – additional cash retainer | $125,000 | Approved May 2024 for Vice Chair; Teich appointed Chairman in Nov 2024 |
| Special Chair retainer – oversight of M&A and management transition | $375,000 | Approved Sept 2024 recognizing Snap One integration and executive transition oversight |
| Equity retainer (Annual RSUs) | $160,000 | Granted at the annual meeting; generally vests in one year; directors may defer |
| Committee chair/member retainers | Audit Chair $25,000 / Member $12,500; Comp & HCM Chair $20,000 / Member $10,000; Finance Chair $15,000 / Member $7,500; N&G Chair $15,000 / Member $7,500; I&T Chair $15,000 / Member $7,500 | Finance and I&T chair/member retainers increased effective July 1, 2024 |
| Deferred compensation plan | Available | Directors may convert cash to deferred stock units and defer RSUs; payout post-service; $350,000 business travel accident insurance provided |
| 2024 Director Compensation (Andrew Teich) | Amount |
|---|---|
| Fees Earned or Paid in Cash | $390,927 |
| Stock Awards (Grant-Date Fair Value) | $159,980 |
| Total | $550,907 |
| Deferral Election | Cash retainers of $390,927 deferred into DSUs |
Performance Compensation
- Non-employee directors: Equity grants are time-based RSUs; no options, no meeting fees, and no performance-vested equity for directors disclosed .
- Executive plan oversight (relevant to Teich’s role on Compensation & HCM Committee):
- 2024 annual incentive metrics: Net Revenue (constant currency) 50% and Operating Income Margin 50%; payouts 50–200% per metric; certain unanticipated/non-core items excluded; Snap One integration incorporated into revised late-2024 goals for certain officers .
- Long-term incentives: PSUs (CEO 60% of LTI, others 50%) based on 3-year relative TSR vs. S&P 600; RSUs vest over 3 years; maintains pay-for-performance orientation .
- 2025 PSU changes following shareholder feedback: half based on relative TSR with a cap if absolute TSR is negative; half based on average ROIC .
| Executive Annual Incentive Metrics (2024) | Weight | Definition |
|---|---|---|
| Net Revenue (Constant Currency) | 50% | Revenue net of discounts/returns, measured at constant FX |
| Operating Income Margin | 50% | Operating income as a % of revenue |
Other Directorships & Interlocks
| Company | Role | Status | Interlocks/Conflicts |
|---|---|---|---|
| Sensata Technologies Holding PLC | Chairman of the Board | Current | No related-party transactions with Resideo disclosed |
| Juniper II Corp. | Director | Former (2021–2023) | None disclosed |
| FLIR Systems, Inc. | Director | Former (2013–2017) | None disclosed |
| Compensation & HCM Committee interlocks | — | — | Company disclosed no interlocks or insider participation by Resideo officers on peer company compensation committees |
Expertise & Qualifications
- Technology and innovation leadership across imaging, sensing, AI, automation, and MEMS; recognized industry innovator with 50+ patents .
- Proven value creation and M&A integration track record (25+ acquisitions; FLIR market cap from ~$60M to >$6B) .
- Governance experience (Lead Independent Director; chairs Resideo’s Innovation & Technology Committee; chairs Sensata’s board) .
- Education: B.S. (Arizona State University); Harvard Business School AMP .
Equity Ownership
| Holding Detail (as of April 8, 2025 unless noted) | Amount |
|---|---|
| Shares of Common Stock (beneficial ownership table) | 157,460 |
| Deferred Stock Units (director deferred account) | 65,341 |
| Outstanding Equity Awards (as of 12/31/2024) | 57,398 |
| Ownership % of Class | Below 1% (Company footnote) |
| Stock Ownership Guideline | 5x annual cash retainer ($450,000); all directors in compliance as of 12/31/2024 |
| Hedging/Pledging | Prohibited for directors and employees |
Section 16(a) Compliance: The Company disclosed two late Section 16 filings in 2024 (for Lazar and Carlet); no delinquency involving Teich was disclosed .
Governance Assessment
- Strengths supporting investor confidence
- Independent Chairman, separate from CEO, with deep technology/M&A expertise and prior Lead Independent Director experience .
- Strong committee engagement: Teich chairs Innovation & Technology (5 meetings in 2024) and serves on Compensation & HCM and Nominating & Governance; all committees fully independent .
- Ownership alignment: substantial personal holdings, DSU deferrals, and strict director ownership guideline compliance; hedging/pledging prohibited .
- Shareholder responsiveness: Say-on-Pay support ~80.5% in 2024; PSU design enhanced for 2025 (add ROIC, cap on rTSR payouts with negative absolute TSR) following engagement .
- Watch items / potential risks
- Elevated chair retainer for M&A/transition oversight ($375,000 incremental) and additional chair retainer ($125,000) are sizable; however, they were approved with disclosed rationale tied to Snap One integration and leadership transition .
- CD&R board designation rights and investment rights create a powerful investor presence; Board notes standstill and transfer restrictions and maintains independence standards—ongoing monitoring of influence dynamics advisable .
- Attendance reported at aggregate >75% for all directors; individual attendance not disclosed—continued transparency on individual-level attendance would further support governance optics .
Overall: Teich’s independent Chair role, technology depth, and active committee service are positives for board effectiveness; compensation deferral/ownership and restrictive trading policies align interests. The special retainers for integration oversight are atypical but transparently disclosed; continued scrutiny of time-bounded nature and outcomes of integration/transition efforts is warranted .