Daktronics top honcho Kurtenbach stand down

Article posted by Coliseum, March 12^th, 2025

Image: @Daktronics on X

Reece Kurtenbach has stepped down from his roles as the President, Chief Executive and Chairman of the American sign manufacturing company Daktronics Board of Directors.

‘avinteractive.com’ stated that Kurtenbach is stepping down after Daktronics entered into a cooperation agreement with the active investor Alta Fox Capital Management which will see an Alta Fox-recommended candidate appointed to its Board.

Daktronics, Inc. is an American company based in Brookings, South Dakota, that designs, manufactures, sells, and services the video displays, the scoreboards, the digital billboards, the dynamic message signs, the sound systems, and the related products. Daktronics develop solutions that have become the standard in the light-emitting diode (LED) video and messaging display industry through reliable quality with a laser focus on their customers’ challenges. It was founded in 1968 by two South Dakota State University professors – Aelred J. Kurtenbach and Duane Sander.

Kurtenbach, whose father founded the company, will step down after 34 years at Daktronics, 12 of them as the Chief Executive Officer (CEO).

The Alta Fox Capital Management is an alternative asset management firm based in Fort Worth, Texas (US). Alta Fox strives to generate exceptional risk-adjusted returns for a diverse group of institutions, family offices and qualified individual clients through various investment vehicles.

‘avinteractive.com’ further stated that Kurtenbach has been with the US-based LED manufacturer for 34 years and will remain involved with the business in an Advisory role supporting Daktronics’ digital transformation plan.

Brad Wiemann, who is the company’s Executive Vice-President and has been with Daktronics since 1993, has been appointed the Interim President and Chief Executive and the Daktronics Board will work with an executive search firm to help identify a permanent Chief Executive.

Daktronics Board Member Howard Atkins has been appointed the Acting Chief Financial Officer and the Chief Transformation Officer. This transition allows Sheila Anderson to focus on her role as the Chief Data and Analytics Officer, a position she assumed in October 2024 while the company’s search for a permanent Chief Financial Officer proceeds.

Andrew Siegel, Daktronics’ Lead Independent Director, will serve as the new independent Chair of the Board.

Commented Kurtenbach, “Since its founding over 50 years ago Daktronics has grown into a world leader in video communications displays and control systems. I am incredibly proud of what we have been able to achieve together and deeply humbled by the remarkable hard work, commitment and loyalty of our team members that has enabled us to get to this point. I am confident that Daktronics has a strong foundation in place supported by the increasing momentum from the company’s transformation to continue its global growth. This is the right moment for me to step back as the Chief Executive and to turn the business over to the next generation of leadership. I believe Daktronics is well-positioned to expand its market leadership position and create significant long-term value for our customers, the shareholders and all the stakeholders.”

Stated Siegel, “On behalf of the Board I want to express our gratitude and highest respect to Reece for his leadership and continued commitment to Daktronics. During his 34-year tenure – including 12 years as the Chief Executive – he has been a thoughtful leader and mentor to the team and instrumental in building Daktronics into the world-class business it is today. From developing groundbreaking new technology and expanding Daktronics’ global footprint into new markets Reece has helped establish Daktronics as an industry leader. We will continue to benefit from his expertise and deep industry relationships as we welcome this next chapter of evolution for Daktronics.”

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