Mitek appoints new CEO with experience leading companies into acquisition

Mitek has announced the appointment of Max Carnecchia as the company’s new Chief Executive Officer and member of its Board of Directors, effective immediately.

Carnecchia replaces Jim DeBello, who had served as CEO for 15 years, and along with CFO Jeff Davison announced in August that he would step down. As CEO of publicly traded company Accelrys, Carnecchia led significant growth which increased revenue from $75 to $185 million, and remained at the company’s helm through its acquisition by Dassault Systemes in 2014. He has extensive experience with enterprise software, SaaS, and analytics companies, according to the announcement.

“Powerful trends in digital transformation are creating major opportunities for our solutions,” says Bruce Hansen, Chairman of the Board for Mitek Systems. “With Mr. Carnecchia’s impressive record of shareholder value creation at multiple public companies, Max is joining Mitek at a pivotal time. His proven record of driving growth and operational excellence will propel Mitek to the next level.”

Carnecchia also led publicly traded content management solutions company Interwoven up until its sale in 2009.

“Mitek is an exciting company with market leadership in Mobile Deposit and on a path to accelerated growth with its digital identify verification solutions,” comments Carnecchia. “I’m thrilled to join this team, which has consistently delivered outstanding results. Together, I am confident we can execute on the strategy and pursue all opportunities available to us to create value for shareholders.”

Carnecchia has received options for the purchase of up to 172,179 shares of common stock and 94,738 restricted stock units at a price of $9.50 as part of his compensation.

Mitek recently announced a deal to provide identity verification for Biocryptology’s biometric authentication platform.

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