OneSpan shareholders to vote on adding Twilio VP and investment banking veteran to board
A pair of new nominees for the OneSpan board of directors will be considered at the company’s annual stockholder meeting on June 12, 2019. Twilio Senior Vice President of Sales Marc D. Boroditsky and Dr. Marc Zenner, who recently retired as global co-head of Corporate Finance Advisory at J.P. Morgan are nominated, along with the six existing directors, as OneSpan expands its board to eight members, according to the announcement.
“The Board has been active with its refreshment initiatives over the last several years and we expect to significantly benefit from the added expertise and new perspectives that these nominees bring,” notes OneSpan Board Chair John N. Fox, Jr. “Today’s announcement demonstrates the Board’s focus on growing our software and cloud-based offerings in our financial services target market.”
“Marc Boroditsky and Dr. Zenner bring a wealth of experience that complements the strengths of our existing board members,” says OneSpan CEO Scott Clements. “We expect them to make important contributions to our business strategy, our capital allocation policy, and our acquisition program.”
Twilio offers a platform-as-a-service for cloud communications, and Boroditsky was involved in the sales of Authy to Twilio and Passlogix to Oracle. Zenner provides strategic advice to various public and private companies after more than a decade as an investment banker, and a distinguished career as a finance professor at the University of North Carolina Chapel Hill’s Kenan-Flagler Business School.
OneSpan rebranded from VASCO and pivoted to focus on biometrics in 2018, and is targeting the financial sector, where its research indicates institutions are still relying on legacy processes for customer authentication.