Team,
Earlier this morning, I promised to share the truth with you. In that spirit, I want to share some of the changes we are making to simplify our leadership structure and flatten our product organization.
With me stepping down as CEO, the Board, Max and I have agreed that my background makes the role of Chief Product Officer redundant. Therefore, Max's role is being eliminated and the product organization will report directly to me. I have asked Max to advise me to ensure a smooth transition into the next period and I am grateful that he has agreed to do so.
Max's tenure represents an iconic era for Sonos products, including the award-winning Sonos One, Beam, Move, Ace, Arc and Arc Ultra, which established Sonos as the world leader in home theater audio and our Laid the foundation of the next chapter. These achievements are a testament to the talent, passion and creativity that define our product team, and Max has been a leading part of them all.
I shared this news openly with Sonos leaders yesterday with the intention that these leaders would share updates with their teams as needed. Unfortunately this news soon reached outside the organization. Although this is disappointing for all of us, I will not let the possibility of a leak alter our ability to communicate openly with each other. So I will keep telling you the truth.
I know it's a big change in two days and I want to thank you for your flexibility, continued commitment to Sonos, and support of each other during this time.
Tom