Pelco by Schneider Electric’s headquarters in Fresno. Photo by David Castellon
Written by David Castellon
Just a couple of months after Fresno-based security electronics company Pelco, Inc. was sold, its CEO has stepped down.
“Jean-Marc Theolier, CEO, will be leaving the organization effective immediately,” states a press release posted Tuesday on the company’s website.
Theolier joined Pelco in September 2017.
As part of this change, Brian McClain, COO, will take the role of President, leading the recently independent company while the search for a new CEO is finalized.
The change in leadership isn’t altogether surprising, as Pelco reportedly has been struggling for some time, relocating some workers from its Clovis plant to its Fresno office and laying off hundreds of workers.
Pelco, which makes surveillance cameras, audio devices and related equipment, was purchased by the European electronics firm Schneider Electric for $1.5 billion in 2007 and quietly went up for sale again last year.
In its report on the company being for sale, IPVM, a website describing itself as “the world’s leading resource on security and video surveillance,” described Pelco as having been “mismanaged by Schneider in a decade of decline.”
At one point, Pelco was Clovis’ largest employer, with about 1,800 people working at its manufacturing and office spaces there. By September 2017, it reportedly was down to down to 650, and more recent employment numbers weren’t immediately available.
Then in May of this year, Los Angeles-based Transom Capital Group acquired Pelco. Though neither side announced the purchase price, websites following the security electronics industry reported the amount was considerably less than what Schneider paid a dozen years ago.
In Pelco’s press release, McClain says of Theolier, “Jean-Marc served as a critical member of the Pelco team in the recent sale and resulting ownership transition. I want to thank him for his passion and service to Pelco and wish him the very best for the future.”
The statement gives no reason why Theolier left, and attempts this morning to contact Pelco and Transom officials were unsuccessful.
McClain’s statement continues, “Pelco commands a powerful branding in a growing industry and maintains a deep bench of amazingly talented employees. Transom Capital Group recognized these factors in its decision to purchase the company, and they will serve as our foundation in becoming the leading solution provider in the industry.”
Also announced was the promotion of existing Pelco employees Brooke Christopher to head of marketing communications and branding, and Stuart Rawling to vice president of marketing strategy.
“We congratulate Brooke and Stuart on their new roles and look forward to their continued leadership in the company,” McClain added.