Nymi names new CEO in advance of wearable product launch

October 9, 2015 - 

Nymi Inc. announced it has named John Haggard the new chief executive officer in advance of next year’s launch for its first commercial product, according to a report by The Globe and Mail.

Founder Karl Martin will be stepping down as CEO and assuming the role of chief technology officer.

Haggard most recently served as chief business officer at Yubico Inc., a provider of specialized USB keys that works as a second-factor security authentication method.

He previously worked as an independent security consultant, as well as CTO and chief operating officer of Vasco Data Security International Inc.

“In multifactor authentication, they’ve made amazing strides into replacing the old-style RSA tokens; we as a startup have always looked up to Yubico. [Mr. Haggard] was instrumental in scaling up that business,” said Martin.

According to Martin, much of Haggard’s time will be spent on the road pitching Nymi to chief intelligence officers and chief security officers of potential business clients.

He will also build up a sales team to expand Nymi’s product reach to international markets.

Additionally, Nymi has named executive Ram Varadarajan to its board of directors. Varadarajan previously served as senior vice president of CA Technologies, and founded fraud and risk management software Arcot Systems.

Previously reported, the Nymi Band, a wearable authentication device that uses electrocardiogram technology, has been used to make the world’s first credit card payment at a cash register verified by the user’s unique heartbeat.

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About Justin Lee

Justin Lee has been a contributor with Biometric Update since 2014. Previously, he was a staff writer for web hosting magazine and website, theWHIR. For more than a decade, Justin has written for various publications on issues relating to technology, arts and culture, and entertainment. Follow him on Twitter @BiometricJustin.