EXCLUSIVE: MUST CREDIT EDISONREPORT. EdisonReport has learned of a small layoff at Venture Lighting and a large change in leadership. Approximately six weeks ago, Shawn Toney was named CEO; last week, long-time Chief Operating Officer, Sabu Krishnan left the company of his own accord to explore other opportunities. On Friday, Venture laid off approximately 10 people.
Today, Shawn Toney confirmed the layoff but emphasized that it had nothing to do with market conditions, and was a result of new efficiencies the company has gained. He emphasized that the reductions were from the back end of the business and not customer-facing positions.
In addition, Toney explained that while Venture continues to see the rapid decline of their HID lamp and ballast business, they are experiencing double digit growth with LED. He went on to say how their former vertically integrated model with ADLT companies such as Auer Glas and APL (salts) was changing, “These companies are obviously less important in the LED space, but they have both transformed. Auer glass has picked up share in optics for automotive while APL is doing a lot with medical imaging.”
Venture’s core business focuses on independent agents, independent distributors as well as independent design-build contractors. Venture was founded in 1982 and became the world-leader in Metal Halide technologies.