Precise Biometrics replaces Marschall as CEO, board calls the move “necessary”
Thomas Marschall is no longer the CEO of Precise Biometrics.
According to the company, the board found it necessary to hire a new chief executive in order to increase growth.
Marschall had been with Precise since 2006 and is being replaced by Håkan Persson as a temporary CEO while the board searches for a permanent replacement.
”Precise Biometrics is a very exciting company with a technology with great potential. I think an increased focus on sales is key to realising the company’s potential, and I look forward to releasing this potential in close collaboration with the management team and the employees,” Persson, interim CEO for Precise Biometrics said.
”The strategy is clear and so are our growth targets. Through many years Precise Biometrics has created the platform for future development,” Lisa Thorsted Chairman of the Board said. “We are now ready to take the next step. With a change in top management the Board wants to be able to respond faster to opportunities in the market and thereby ensure momentum and benefit from the company’s healthy financial situation to the benefit of customers, shareholders and employees.”
In September, Marschall sold 1,855,501 of his shares in the company for “private economic reasons.” It is unclear if this is part of the consideration to replace him.
The company recently issued an update for its third quarter, 2013, and showed net sales of US$96,000 (SEK 6.1 million). In the third wuarter, the company signed a significant licensing deal with Fingerprint Cards, under which FPC licensed Precise’s fingerprint algorithm in its sensors, Reported previously, FPC has bundled the algorithm into existing sensors, targeting smartphones and tablets.