Soloway shifts from operator to innovator as NAPCO enters next chapter

AMITYVILLE, N.Y.—Richard “Dick” Soloway isn't retiring. Instead, the NAPCO Security Technologies founder is handing operational leadership to Kevin S. Buchel so he can devote more time to innovation, new technologies and the company's long-term growth. 

Soloway stepped down in July, transitioning to founder and executive chairman while continuing as chairman of the board. 

“I was getting too deeply involved in the day-to-day activities and losing focus on my real strength, which is that I am a serial entrepreneur and want to keep using those skills to drive NAPCO forward,” Soloway said. 

Refocusing on what he does best 

Today, with NAPCO's market capitalization at approximately $1.5 billion, Soloway said he sees an opportunity to contribute most effectively by focusing on future innovations rather than daily management. 

Throughout his career, Soloway has built businesses by identifying emerging opportunities and bringing new technologies to market. He said the new role will give him greater freedom to pursue that entrepreneurial approach as NAPCO looks toward its next stage of growth. 

“I felt that I could be more valuable to the company if I unburdened myself from the day-to-day operations and handed them over to Kevin Buchel, whose strength is in operations and accounting,” he said. 

A natural succession 

For Buchel, the promotion represents the next step in a career spanning more than 25 years at NAPCO. 

“My career at NAPCO has allowed me to work across virtually every aspect of the business,” Buchel said. “Those experiences have given me a deep understanding of what makes NAPCO successful and the importance of balancing innovation, disciplined execution, and customer focus.” 

Buchel emphasized that the leadership transition was not a sudden development but the culmination of a lengthy succession planning process. 

“Strong public companies prepare for leadership continuity well in advance, and our board has consistently viewed succession planning as an important governance responsibility,” he said. “Over the past several years we've deliberately expanded responsibilities within the leadership team, making this transition a natural progression rather than a sudden change.” 

According to Buchel, the message to employees, dealers, integrators, customers and investors is one of continuity. 

“Our strategy remains intact, our commitment to innovation remains strong, and the people our customers work with every day are unchanged,” he said. 

Building on a successful foundation 

Both executives stressed that the transition does not signal a change in strategy. 

Buchel said NAPCO remains focused on expanding recurring service revenue, strengthening its commercial and enterprise businesses, investing in innovative technologies and maintaining  strong relationships with dealers and integrators. 

“Our recurring service revenue business has transformed NAPCO by creating a highly predictable, high-margin revenue stream while strengthening customer relationships,” he said. “This leadership transition ensures that we continue executing that successful strategy while investing in new technologies, expanding our market opportunities, and driving profitable growth.” 

Looking ahead, Soloway plans to leverage his entrepreneurial instincts and industry relationships to help identify the next generation of opportunities for the company. 

“Using my entrepreneurial skills and my large network of contacts, I plan to bring in new technologies so that the company becomes even more prosperous,” he said. 

Related: NAPCO restructures sales leadership to support growth strategy 

Photo courtesy of NAPCO