Jeffery Gardner named CEO of Monitronics
DALLAS— Jeffery Gardner, a former telecommunications executive with extensive M&A experience, has been named CEO of Monitronics and EVP of Monitronics parent company Ascent Capital Group. He will start his new job Sept. 10 and will replace Mike Haislip who is retiring.
Gardner served as CEO of voice and data network communications provider Windstream Holdings from 2006 to December 2014. Gardner oversaw nine acquisitions, totaling $5 billion, during his tenure at Windstream, a Fortune 500 company.
In a prepared statement, Bill Fitzgerald, chairman and CEO of Ascent Capital Group, lauded Gardner’s knowledge of telecommunications, expertise in building companies and financial acumen.
Alper Cetingok, managing director for financial services holding company Raymond James, pointed out that Gardner, while not a security industry executive, “clearly has relevant experience in building a subscription-based business."
“I suspect that bringing on someone with Gardner’s operational expertise and acquisitions experience probably means that they plan to accelerate their [M&A] program even more and perhaps look more broadly for acquisitions,” Cetingok told Security Systems News.
Ascent has previously indicated interest in getting into other subscription-based, recurring revenue businesses, such as PERS and tele-health. It has also said it may expand beyond residential into commercially focused security businesses.
Monitronics completed two major acquisitions in the past two years. It acquired LiveWatch, a DIY company in February. In mid-2013, Monitronics acquired Security Networks, which added more than 200 dealer
Haislip had a similar background in telecommunications, working with companies such as Charter Communications before joining Monitronics in 2006. Monitronics launched a search for a CEO on Jan. 23 when Haislip announced his retirement.
According to a report in the Arkansas Business Journal, Gardner resigned from Windstream in December. He was Windstream's first CEO.
Monitronics did not immediately respond to requests for interviews with Gardner.
Spencer Ives contributed to this story.