Precise Biometrics shareholders reject proposed incentive package for incoming CEO

Precise Biometrics re-elected all members of its Board of Directors, including Chairman Torgny Hellström, at its annual general meeting, but a majority of shareholders did not support the Board’s recommendation to implement a share-based incentive program for its new CEO, the company announced.

Stefan K. Persson will become CEO of Precise Biometrics effective August 1, and the Board had proposed extending the incentives to him after it launched a long-term incentive package for the company’s management at its 2017 AGM.

The Nomination Committee’s proposals regarding remuneration for the Board were enacted, as were the Board’s proposals for senior management remuneration, and authorization for new issues of shares or convertibles. Precise also resolved to pay no dividends for the 2017 financial year, and EY was re-elected as auditor for the next year.

The company recently announced significant revenue growth in Q1 2018, and its software is integrated with an in-display fingerprint sensor on the new Huawei Honor 10 smartphone.

Article Topics

biometrics  |  Precise Biometrics  |  Stefan K. Persson  |  stocks