February 1, 2017 -
NEXT Biometrics Group ASA announced that its board of directors has appointed Ritu Favre as the company’s new CEO.
Current CEO Tore Etholm-Idsøe will stay on with the company in a full time role as chairman of the board.
Favre has extensive experience in both the semiconductor and the fingerprint sensor industry, having most recently worked as senior vice president and general manager of Synaptics’ biometric products division.
Previously, Favre worked for 11 years at Freescale Semiconductor where she last served as senior vice president and general manager of its RF Group.
Earlier in her career Favre worked at Motorola for 15 years where she held the positions of manufacturing manager and manager of business product operations.
“We are very pleased that Ritu has agreed to take up the CEO position, and we believe she is the right person to establish NEXT as a leading supplier in the fingerprint industry,” NEXT Biometrics chair Brita Eilertsen said. “There is a strong need for semiconductor experience in the next stages of the company’s development. New generations of ASICs will further enhance NEXT’s competitiveness and long-term position as a leader in smart cards and other segments of the biometrics industry. Ritu has extensive semiconductor experience and also knows the biometric industry well after heading the biometric division of Synaptics.”
Favre has a deep understanding of India’s culture and language, which will greatly benefit NEXT as the company seeks to take advantage of the many opportunities in the Indian market.
In addition to being chairman of the board, Etholm-Idsøe will support Favre in developing the company’s smart card business and further strengthening the company’s position in the capital markets.
Favre will assume the CEO position in the near future. Meanwhile, Etholm-Idsøe’s position as chairman of the board is backed by all present board members and is subject to final approval by NEXT general assembly.
“Having followed NEXT over the last few years, I see great potential in the technology and markets, and am very excited to be given the opportunity to develop the company further as its CEO,” Favre said. “I look forward to work with the board, the management team and employees with the goal to capitalize on the potential of NEXT.”
Previously reported, Tore Etholm-Idsoe wrote a letter to investors where he announced NEXT Biometric’s intention to ramp up the volume production along with its partner Innolux in Taiwan “within the end of the first half of 2017.