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Next Biometrics appoints new CEO with plans for profitability in 2024

Next Biometrics appoints new CEO with plans for profitability in 2024

Next Biometrics has announced the appointment of Ulf Ritsvall as its new CEO, succeeding Peter Heuman, who has held the position since 2019. Ulf Ritsvall currently serves as SVP of sales and marketing at Next Biometrics. Peter Heuman will continue to serve as an advisor to the Board of Directors and the new CEO. The change in leadership is scheduled to take place on October 1, 2023.

In a press release, Chairman of the Board Petter Fjellstad says that Ritsvall’s extensive knowledge of the biometric and technology industries and his large, global network will be key to the company’s future success. “He has also lived several years in Asia and thus has unique experience of our main markets, India and China,” Fjellstad adds.

Fjellstad also credits Heuman as “the architect of the turnaround of this company.”

“Next has a unique fingerprint technology and strong biometrics know-how, which I believe can bring us to profitability within the coming 7-9 months,” Ritsvall says, noting his honor to be appointed CEO.

The company reported an operating loss of 33.4 million Norwegian kroner (US$3.1 million) in the first half of 2023.

Next provides advanced fingerprint sensor technology in the smartcard, government ID, access control and notebook markets. The company is headquartered in Oslo, with sales, support and development operations in Seattle, Taipei, Bengaluru and Shanghai.

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