iRobot Corporation, a company listed on the Nasdaq Stock Market under the trading symbol IRBT, has announced the appointment of Gary S. Cohen as the new President and Chief Executive Officer, effective May 6, 2024. Cohen, with over 25 years of executive leadership and experience, will be succeeding Glen D. Weinstein. Weinstein will provide transition services for 60 days post-appointment, after which his employment will terminate. He is set to receive severance and benefits, including full vesting of certain equity awards. Cohen's appointment is part of a planned transition and is not due to any disagreement with the company's operations, policies, or practices. The employment agreement with Cohen includes a base salary of $700,000, with a bonus target of 100% of his annual...Show More

iRobot Corporation, a company listed on the Nasdaq Stock Market under the trading symbol IRBT, has announced the appointment of Gary S. Cohen as the new President and Chief Executive Officer, effective May 6, 2024. Cohen, with over 25 years of executive leadership and experience, will be succeeding Glen D. Weinstein. Weinstein will provide transition services for 60 days post-appointment, after which his employment will terminate. He is set to receive severance and benefits, including full vesting of certain equity awards. Cohen's appointment is part of a planned transition and is not due to any disagreement with the company's operations, policies, or practices. The employment agreement with Cohen includes a base salary of $700,000, with a bonus target of 100% of his annual base salary, and equity awards. Additionally, Cohen will receive severance benefits under certain termination conditions and is subject to a restrictive covenant agreement. The company will also enter into an indemnification agreement with Cohen. There are no reported family relationships or relevant transactions involving Cohen that would require disclosure under SEC regulations.