Law-enforcement technology company Axon Enterprise Inc. (Nasdaq: AXON) has named a new chief financial office, who will also fill the newly created position of chief business officer.
Brittany Bagley, who will step into her new duties on Sept. 26, comes to the Scottsdale-based company from Sonos (Nasdaq: SONO), where she was also CFO since 2019 and had spent time as a board member. Before that, she worked at KKR & Co. in various positions, most recently managing director.
“Brittany’s broad experience as a public company CFO, board member and investor position her well to lead Axon’s finance organization through our next phase of growth,” Axon founder and CEO Rick Smith said in a statement. “We believe Brittany will be a valuable thought partner as we continue to execute against our mission and deliver for our customers and shareholders.”
Bagley’s compensation package includes an annual base salary of $450,000, according to a regulatory filing, which also said she will be eligible for annual cash incentive compensation of $450,000 as well as eligible for annual stock compensation. She also will be granted more than 100,000 shares that will vest after designated time and performance milestones, as well as a sign-on stock bonus that will begin vesting after her first year with the company.
Bagley said this is an exciting time to be joining the company.
“I am excited and humbled to join Axon and play a role in the company’s inspiring mission to protect life,” she said in a statement. “With a model of rapid software growth and annual recurring revenue, the company is uniquely positioned to deliver strong growth, build scale and drive long-term profitability. I look forward to partnering with this great team and building upon their outstanding track record of execution and delivering shareholder value.”
Bagley’s experience also includes time at TMT Private Equity, where she worked with semiconductor, consumer electronics, software and other technology businesses, and Goldman Sachs.
She also currently sits on the board of directors of self-driving technology company Aurora (Nasdaq: AUR), and she serves as that board’s audit committee chair.
Axon COO Josh Isner said Bagley will be a fundamental contributor across Axon’s entire business.
“Brittany brings to our bench 17 years of financial industry experience and we look forward to leveraging her analytical rigor, expertise in investing for strategic growth and keen ability to lead finance organizations in highly dynamic industries,” Josh Isner, Axon COO, said in a statement.
Bagley will take over from Jim Zito, the company’s vice president of accounting who has been interim CFO since May, when former CFO Jawad Ahsan left the company. Ahsan soon after that became president at Chandler-based wireless power startup Aira.
Regulatory filings show that Ahsan was paid a base salary of $325,000 in 2021, while his total compensation reached $6.45 million, mainly including stock awards.
Axon just this week released its second-quarter earnings, reporting double-digit year-over-year revenue growth, thanks to strong performance in the company’s software category. The company said it is on its way to having its first-ever year of sales exceeding $1 billion.
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