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NETGEAR, a leading global networking company, recently revealed the upcoming retirement of its current Chief Executive Officer and Chairman, Patrick C.S. Lo. Having occupied the position of CEO for nearly three decades, and serving as a significant driving force in the development of advanced networking technologies, Patrick Lo has left an immense impact on the company. From 31st January 2024, his influential role will be succeeded by Charles (CJ) Prober, who is also joining NETGEAR's Board of Directors.
Lo will retain a role as a strategic advisor to ensure a smooth transition of leadership until July 2024. Thomas H. Waechter, NETGEAR Lead Independent Director, emphasised the weight of this announcement. He extolled the undeniable impact of Patrick Lo's leadership, stating "His vision for delivering the future of connectivity through advanced networking products and solutions has shaped who we are as a company, and we celebrate all he has accomplished."
Waechter highlighted that they have, "full confidence" in Prober for the future of the company, stating, "We look forward to working with him and the NETGEAR leadership team to take the company forward for its next phase of innovation."
Lo and co-founder Mark Merrill initiated NETGEAR 28 years ago at a time when the internet was starting to make significant impressions on the global stage. Recalling the early stages of NETGEAR, Lo said, "We seized the opportunity, and we've been innovating and leading the industry in the creation of advanced networking technologies for homes and businesses around the world ever since."
Prober steps into his new role with NETGEAR after a thorough search process conducted by the NETGEAR board, spanning over a 12-month period. Characterised as a seasoned and successful business leader, Prober brings along a proven track record in driving growth, transformation and innovation in his past roles. Prober's leadership positions in the technology sector have included roles as President of Life360, CEO at Tile, Chief Operating Officer at GoPro, and SVP of Digital Publishing at Electronic Arts (EA).
Sitting on the Board of Directors of Life360 and Glorious Gaming, Prober has been instrumental in driving subscription and revenue growth in these companies, as well as playing a major role in the transformation of EA into a digital services company. His extensive experience in leading large teams and running complex global businesses highlights his capacity to generate value for stakeholders.
Expressing his enthusiasm for joining NETGEAR, Prober said, "As an innovator and pioneer, NETGEAR is an admired and respected brand by both consumers and businesses at a time when connectivity matters more than ever." He further emphasised, "I have built my career on delivering innovative and industry-leading products and services and am proud to join the NETGEAR team to continue this path and to create value for all stakeholders, continuing the company's strong focus on innovation in the industry."
