After a CEO transition this fall, AGI’s new CEO Paul Householder has announced a reorganization for the company’s digital division.
Further details are yet to be released, however, company leaders say this centers on a revised strategic plan that will effect 3% of the workforce and lead to $8 million in severance.
The goal is to reposition the AGI Digital business for future profitability.
“We continue to be committed to AGI Digital and are excited about the role it plays as a strategic differentiator for AGI,” said Paul Householder, President and CEO of AGI. “Our customers value the ability to collect data from their equipment and to use it to improve the safety, efficiency, and profitability of their operations. Focusing on our core Digital products will accelerate our ability to bring these valued services to market, driving greater customer adoption and overall business performance. These decisions will ensure that AGI Digital is on a path to becoming a sustainable positive contributor to AGI’s overall results. I would like to express my sincere appreciation to the employees across the entire AGI Digital team.”
Householder joined AGI in 2019 as executive vice president. Each year since his roles and responsibilities have expanded. In 2020, he was promoted to executive vice president of global operations. In 2021, he was promoted to chief operating officer. And in September of 2022, with the departure of Tim Close, Householder was named president and CEO.
Close had been with AGI since 2012.
At the time of Householder being named as CEO, chair of the board Bill Lambert said, “Since joining the Company Paul has earned the respect of our Board of Directors and is highly regarded throughout our organization. Recently, Paul has been leading projects designed to deepen the level of integration and optimization of our many businesses and his focus on operational excellence will serve us well. The Board has full confidence in Paul’s ability to lead AGI.”
AGI has not announced the date for its next quarterly investor call.
