Cloudastructure, Inc. announced today that founder Rick Bentley will be transitioning from his role as Chief Executive Officer and a member of the company’s board of directors to the role of Founder. Fellow board member and industry veteran James McCormick will be taking over the reins as CEO, as well as continuing to serve on the board.
Mr. Bentley and Mr. McCormick first worked together at General Magic in the 1990’s. Most recently, Mr. McCormick was the President and COO of LTA Research and Exploration LLC, with previous roles as CFO of Global Equipment Services and President and CEO of Shorai Inc. We believe McCormick’s notable history offers Cloudastructure the potential for a smooth transition from startup to a large successful company.
The handover will take place with immediate effect.
Holding the title of Founder, Bentley remains the first named inventor on all of the company’s pending patents, expert in our AI/machine learning (“ML”) technology, product and how the technology can best be used to serve our customers’ needs. When asked about the transition, he commented, “With last year’s SEC action, my presence as a director or officer limited some of the company’s options. I hold the company’s needs above my own and will continue to do everything I can to maximize its chances of overwhelming success.” Although Mr. Bentley will no longer be in charge of any of the company’s business units, divisions or policy making functions, he says, “I’ll still be here helping in any way I can.”
Mr. Bentley said, “I started Cloudastructure over 20 years ago now, it’s time to bring in someone else to take it to the next level. I’ve known James for decades and trust him explicitly.”
“I am honored to join Cloudastructure as its next Chief Executive Officer,” said Mr. McCormick. “In my previous experience as a member of the board, I developed a deep understanding of the company’s product offerings, sales traction and product development roadmap. I believe the company has a tremendous opportunity to continue to grow its customer base and to expand the leadership position it enjoys with its remote guarding offerings. I look forward to working with our sales, engineering and installation teams to enhance value to our customers and building on the legacy of innovation Cloudastructure has demonstrated in the past.”
