iRobot Corporation, a leader in consumer robots, announced the appointment of Jeffrey Engel as the new President and Chief Operating Officer effective August 6, 2024. Engel, who has over 30 years of executive and advisory experience, previously served as iRobot's Chief Restructuring Officer and has a history of leading successful business turnarounds. Gary S. Cohen, who resigned as President, will continue as CEO. Engel's appointment is part of iRobot's ongoing operational restructuring, and he will be responsible for overseeing daily operations and strategic initiatives aimed at returning the company to profitable growth. Engel's compensation includes a $600,000 annual base salary, a bonus target of 85% of his base salary, a hiring bonus of $425,000, and stock units with vesting based on performance milestones. The employment agreement also outlines severance terms and restrictive covenants. The announcement was made via a press release on August 6, 2024, and is accompanied by an SEC filing detailing the terms of Engel's employment.

iRobot Corporation, a leader in consumer robots, announced the appointment of Jeffrey Engel as the new President and Chief Operating Officer effective August 6, 2024. Engel, who has over 30 years of executive and advisory experience, previously served as iRobot's Chief Restructuring Officer and has a history of leading successful business turnarounds. Gary S. Cohen, who resigned as President, will continue as CEO. Engel's appointment is part of iRobot's ongoing operational restructuring, and he will be responsible for overseeing daily operations and strategic initiatives aimed at returning the company to profitable growth. Engel's compensation includes a $600,000 annual base salary, a bonus target of 85% of his base salary, a hiring bonus of $425,000, and stock units with vesting based on performance milestones. The employment agreement also outlines severance terms and restrictive covenants. The announcement was made via a press release on August 6, 2024, and is accompanied by an SEC filing detailing the terms of Engel's employment.