Harmonic, announced that Patrick Harshman will retire as President and Chief Executive Officer, effective June 11, 2024. Nimrod Ben-Natan, currently Senior Vice President and General Manager of Harmonic’s Broadband business, has been appointed as Mr. Harshman’s successor by Harmonic’s Board of Directors. Mr. Harshman will work with the Board and Mr. Ben-Natan to ensure a smooth transition.
Mr. Ben-Natan joined Harmonic in 1996 as a software engineer to design and develop its first-generation video transmission platform. He has led Harmonic’s Broadband business as Senior Vice President and General Manager since 2012. Mr. Ben-Natan has been a key driving force in the advancement of next-generation broadband networks, and his visionary leadership has been instrumental in pioneering the development and widespread deployment of the Company’s Emmy award-winning cOS™ virtualized broadband technology.
“On behalf of the entire Board, I’d like to thank Patrick for his leadership and service to Harmonic, guiding the Company through multiple strategic transformations over the years. It has been a real pleasure to work with him all these years and we wish him success, good health and happiness in the next chapter of his life. We are pleased that his expertise will be available to support Nimrod and the Board in this transition,” said Patrick Gallagher, Chair of the Harmonic Board of Directors.
Gallagher continued, “As part of a thoughtful succession planning process, we conducted a comprehensive evaluation of both internal and external candidates with the support of a leading search firm. Nimrod was the standout – his leadership has been pivotal in the rapid growth of the Company’s groundbreaking and market-leading virtualized broadband access solutions. He is admired and respected by our employees and customers, and the Board is confident that his strategic vision, experience and business acumen will drive Harmonic’s future success.”
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“Leading Harmonic has been the privilege of a lifetime and I am proud of what we have accomplished,” said Harshman. “Together, we strategically re-positioned the Company as a worldwide leader in next-generation broadband solutions and video streaming and delivery solutions, successfully expanding our customer base, international presence and product portfolio. Nimrod is ideally suited to lead Harmonic and our talented global team into its next chapter of innovation and growth.”
“I am energized and excited to step into the CEO position,” added Nimrod Ben-Natan. “I look forward to collaborating with the Board and our Harmonic team to build on the strong foundation we have established as we continue to revolutionize broadband networks and cloud streaming.”
Video Business Review Update
As previously announced in October 2023, Harmonic’s Board of Directors initiated a formal strategic review process to evaluate potential strategic alternatives for the Company’s Video business with the assistance of independent financial and legal advisors. After carefully evaluating a range of alternatives, the Board concluded its review and determined that current market conditions do not support its value creation objectives for the Video business.
The go-forward strategy for Harmonic‘s Video business will be centered on driving profitable growth by focusing on scalable market opportunities, streamlining operations and optimizing its cost structure.
SOURCE: PRNewswire