SmartRent Inc. (NYSE: SMRT) announced the promotion of Pankaj Bansi to chief operating officer, expanding his role from chief transformation officer, a position he held since joining the company in October 2025.

In his new role, Bansi will oversee operations, field services, supply chain and analytics while continuing to lead the company's AI-focused enterprise transformation strategy. The Phoenix-based smart home technology provider stated that Bansi contributed to a 630-basis point year-over-year expansion in gross margins during his tenure as chief transformation officer.

"Pankaj has been a driving force behind our strategic evolution since joining the team," said Frank Martell, president and CEO of SmartRent. "His promotion to Chief Operating Officer is a natural progression that recognizes his success in driving increasing levels of operating leverage."

Bansi brings more than 30 years of experience in real estate and technology, including senior leadership roles at Cotality, Deloitte Consulting and Everest Group. He has led global mergers, acquisitions and corporate transformation initiatives valued at more than $1 billion, according to the company.

SmartRent provides smart home technology solutions to rental housing properties. The company reported that 15 of the top 20 multifamily operators use its solutions and that it is approaching one million installed IoT units.

"My priority is to make SmartRent an AI-first organization, one where artificial intelligence is embedded into our core workflows, field services and customer experience," Bansi said in the announcement.