Two weeks after longtime CEO Todd Pedersen announced he is stepping down, Vivint Smart Home announced on Monday that David Bywater has been appointed new CEO. Pedersen will step down as CEO of Vivint Smart Home on June 15, but will remain a member of the board of directors. Bywater will also join the company’s board of directors.
Bywater most recently served as CEO of Vivint Solar, where, according to a press release, "he oversaw significant efficiency gains across the company’s installation processes and a rationalization of its cost basis, as well as the successful execution of its merger transaction with Sunrun, which resulted in Vivint Solar becoming a wholly owned subsidiary of Sunrun."
Following the completion of the merger, Bywater continued to serve as the CEO of Sunrun’s Vivint Solar subsidiary until April 2021 to ensure a smooth transition. Before joining Vivint Solar, Bywater served as Vivint Smart Home's COO and was responsible for customer operations, human resources, field service and supply chain management.
“We are pleased to have a leader with David’s robust skillset and intimate understanding of our business and operations join the Vivint Smart Home team,” David F. D'Alessandro, Vivint Smart Home’s chairman of the board of directors, said in a statement. “During his 25 years in senior management roles, including three years at Vivint Smart Home and five years at Vivint Solar, David established a track record of success leading a public company, developing and executing strategies focused on expanding market share, generating solid financial returns and achieving operational excellence while delivering superior customer experiences. We are confident that David has the right experience to lead the company into its next phase of growth, and create value for all stakeholders.”
Said Bywater: “I am excited to rejoin Vivint Smart Home, a company that I know well, deeply admire and believe has a unique value proposition. In addition to having strong operations, an attractive business model and a leading position in the industry, one thing that has always stood out to me about Vivint Smart Home is the level of dedication to executing on its strategic objectives and providing customers with a best-in-class experience. I look forward to working alongside the rest of the management team and talented employees to build on this strong foundation.”
Bywater holds a B.S. in economics from Brigham Young University and an MBA from Harvard Business School.
