NETGEAR®, Inc. (NASDAQ: NTGR), a renowned global networking company specializing in cutting-edge networking and internet-connected products for both consumers and businesses, has announced the retirement of Patrick C.S. Lo, the current Chief Executive Officer and Chairman of the board. This decision encompasses his departure from both his executive role at NETGEAR and his position on the company’s Board. However, Lo will continue to contribute as a strategic advisor, facilitating a smooth leadership transition until July 2024. In a strategic move, the Board has promptly appointed Charles (CJ) Prober, an accomplished senior technology executive, to take over as the new CEO, effective immediately. Simultaneously, Prober will also assume a position on NETGEAR’s Board of Directors.
Acknowledging Lo’s significant contributions, Thomas H. Waechter, NETGEAR Lead Independent Director, remarked, “As co-founder of NETGEAR, and leader for nearly three decades, it goes without saying that Patrick Lo’s impact on the company is undeniable. 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 expressed confidence in Prober, stating that the Board looks forward to collaborating with him and the NETGEAR leadership team to guide the company through its next phase of innovation.
Reflecting on his journey with NETGEAR, Patrick Lo stated, “When Mark Merrill and I founded NETGEAR 28 years ago, the internet was beginning to show its impact on the world. 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. We’ve pushed the boundaries of what can be experienced in a connected world, and I am all for the next chapter of the NETGEAR story.”
The appointment of CJ Prober follows a meticulous 12-month search process by the NETGEAR Board, aimed at securing a next-generation leader with extensive experience in consumer electronics, software, and subscriptions. Prober, with unanimous support from the Board, possesses the essential qualities for NETGEAR’s continued success in the consumer and business networking industry. Prober brings a wealth of expertise as a seasoned business leader, having successfully driven growth, transformation, and innovation in previous roles. His background includes leadership positions at prominent consumer and technology brands such as Life360, Tile, GoPro, and Electronic Arts (EA). Notably, he played a crucial role in EA’s transition from a packaged software to a digital services company.
Prober, currently serving on the Boards of Directors of Life360 and Glorious Gaming, is recognized for his accomplishments in driving subscription and revenue growth in his previous roles. Expressing his enthusiasm for joining NETGEAR, Prober stated, “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 emphasized his commitment to continuing the company’s tradition of innovation and creating value for all stakeholders, expressing excitement about the promising path ahead and the collaboration with the Board, partners, and NETGEAR’s global employee base.
