Audiovisual systems manufacturer Daktronics has announced that Reece Kurtenbach has stepped down as chairman, president and chief executive of the company.
Kurtenbach will transition to an advisory role, with Brad Wiemann, an executive vice-president at Daktronics, stepping in as interim chief executive. The board of directors has initiated a search for a permanent successor to Kurtenbach.
Daktronics has also appointed Howard Atkins as its acting chief financial officer and chief transformation officer, allowing Sheila Anderson to focus on her role as chief data and analytics officer. Andrew Siegel, current lead independent director, will also become chairman of the board.
Kurtenbach has been with Daktronics for 34 years and spent 12 years as chief executive of the company.
Kurtenbach said: “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 CEO 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, shareholders and all stakeholders.”
The announcement was made as Daktronics reported its results for the third quarter of the 2025 fiscal year. Sales for the quarter totalled $149.5m (£116m/€138m), a 12.2 % decrease from the third quarter in 2024, with gross profit as a percentage of net sales remaining largely unchanged (24.5% to 24.6%).
Daktronics reported an operating loss of $3.6m for the quarter, compared to an operating income of $8m for the same period in 2024. Net loss for the quarter was $17.2m.
Kurtenbach said: “Our orders grew sequentially in the third quarter, driven by a strong increase in commercial orders, securing a major NFL stadium order, and a rebound in International orders.
“Despite the traditionally lower volume in the third quarter due to the completion of fall sports installations, a natural slowdown in outdoor construction projects, and the impact of two major holidays, we successfully preserved our gross margin and increased quarterly cash flow compared to last year through cost mitigations, favourable sales mix, and careful working capital management.”
Daktronics recently installed a new centre-hung scoreboard at Crypto.com Arena, home of the NBA’s LA Lakers, NHL’s LA Kings, and WNBA’s LA Sparks. The 41.7-million-pixel scoreboard features six displays and spans 5,500 square feet.
Daktronics also designed and manufactured a huge Halo Board (pictured) for Intuit Dome, the new home of the LA Clippers which opened last year. The board is said to be the largest ever double-sided halo display in an arena setting.
The Clippers signed a wide-ranging deal with Daktronics in June 2022, marking the first time that the company had crossed the $800m mark for orders in a single fiscal year.
Daktronics has a range of major-league clients across the US and Canada and also works with teams in Europe and other territories.
