NAPCO Security Technologies has announced an executive leadership transition as the company looks to position itself for its next phase of growth.
Richard Soloway, currently chairman and chief executive officer, will move into the role of founder and executive chairman. Kevin Buchel, currently president and chief operating officer, will become chief executive officer and president.
Soloway founded NAPCO more than 55 years ago. In his new role, he will continue to focus on strategic initiatives, long-term business planning, product innovation, key security industry relationships and guidance for the management team on critical business issues. He will also remain chairman of the company’s board of directors.
“In my new role as executive chairman, I am committed to bringing NAPCO to the next level of success,” Soloway said. “It is also with great confidence and pleasure that we turn the chief executive position over to Kevin, who has already demonstrated his leadership skills and business acumen since his appointment as NAPCO’s president and chief operating officer two years ago. I look forward to continuing to collaborate with Kevin in our new roles.”
As chief executive officer and president, Buchel will take on additional management responsibilities across the company’s day-to-day operations. These will include implementing business strategies, executing marketing and sales plans, communicating with customers, suppliers and investors, and managing financial goals and objectives.
Buchel said: “I am very excited and honored for this opportunity to lead the NAPCO team as we embark on the next chapter of NAPCO’s success story. I look forward to executing our strategies, delivering innovative products, and implementing our differentiated business model to drive revenue growth and sustained profitability.”
