New CEO: Nest Isn't Going Anywhere

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Nest is not going anywhere, according to new CEO Marwan Fawaz. In a letter to Nest employees yesterday, he insisted that he was not brought in to sell the company.

"My only agenda for Nest is to scale and grow with innovative products. Nest is not for sale, and scaling and innovation aren't mutually exclusive," he wrote in the memo, which was obtained by The Verge. "I'm counting on each one of you to help maintain our culture of disruption, the source of the Nest magic. This culture is how we'll continue to lead in the connected home space, continue to attract the best talent around, and help save even more energy and lives."

Fawaz appeared to tease a future Nest product in his letter, though its name was redacted in the memo. "Many of you have asked if there's a change in strategy or direction. There is not. We need to focus on delivering the great roadmap we have in place, beginning with [redacted]," he said.

According to sources speaking to Tech Insider, Nest has a few new products cooking right now: colored versions of the Nest thermostat and an outdoor version of the Nest Cam, for example.

The memo comes after Nest CEO Tony Fadell was replaced with Fawaz, formerly the CTO at Charter and an executive vice president at Motorola Mobility.

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