EANS-News: Identive Group Inc. / IDENTIVE ANNOUNCES APPOINTMENT OF DAVID WEAR AS EVP FINANCE
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Corporate news transmitted by euro adhoc. The issuer/originator is solely
responsible for the content of this announcement.
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Management Changes
SANTA ANA, Calif. and ISMANING, Germany, May 3, 2012 (euro adhoc) –
Identive Group, Inc. (NASDAQ: INVE; Frankfurt: INV), a provider of
products and services for the identification, security and RFID
industries, announced that David Wear, 44, has joined the Company
today as Executive Vice President, Finance, and will be based at the
Company’s offices in Ismaning, Germany.
Wear will assume the role of Executive Vice President, Chief
Financial Officer and Company Secretary on July 1, 2012, replacing
Melvin Denton-Thompson, who will remain with the Company as Executive
Vice President for Special Projects through March 31, 2013 to, among
other things, facilitate the transition of the CFO role.
Wear has nearly 25 years’ experience in finance and financial
management on a global basis, with significant experience in the
security industry. For more than 15 years he served in regional and
divisional management roles within the security businesses of United
Technologies Corporation (UTC), where his responsibilities included
regional oversight of internal controls and Sarbanes-Oxley
compliance. As a regional CFO, he managed financial operations and
reporting for the UTC Fire and Security, Chubb and Williams
subsidiaries in Europe and Asia and oversaw the transition from UK
GAAP to US GAAP. Most recently Wear was responsible for finance
transformation and restructuring programs for the $1.0 billion UK
operations of UTC Fire and Security. He qualified as a Chartered
Management Accountant in 1991.
“David’s record as a successful business leader and his deep
expertise in the global security industry are ideal prerequisites to
take on this important role on our management team to support our
financial strategy and growth initiatives,” said Ayman S. Ashour,
Chairman and Chief Executive Officer of Identive. “We welcome David
to our team and believe his strong operational experience as a CFO
and his proven ability to balance cost reductions and growth will
benefit Identive and our stockholders and enhance our communications
with the capital markets.”
Ashour added, “I am very grateful to Melvin for helping to guide
Bluehill ID since our early start-up days in 2008, and Identive since
its combination with Bluehill in 2010. Melvin has been an important
contributor in transforming Identive to a high-growth global
technology company, and has agreed to help as needed with the
transition period for David Wear.”
About Identive Identive Group, Inc. (NASDAQ: INVE; Frankfurt: INV) is
focused on building the world’s signature company in Secure ID. The
company’s products, software, systems and services address the
markets for identity management, physical and logical access control,
cashless payment, NFC solutions and a host of RFID-enabled
applications for customers in the government, enterprise, consumer,
education and healthcare sectors. Identive’s mission is to build a
lasting business of scale and technology based on a combination of
strong technology-driven organic growth and disciplined acquisitive
expansion. The company delivers up-to-date information on its
activity and the industry trends through its industry-leading social
media initiatives and educational resource, Ask Identive.com. For
additional information, please visit www.identive-group.com or follow
on Twitter at @IdentiveGroup.
Further inquiry note:
Mr. Lennart Streibel
Tel.: +49 89 9595-5195
E-Mail: lstreibel@identive-group.com
end of announcement euro adhoc
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company: Identive Group Inc.
Carnegie Ave., Bldg. B 1900
US-CA 92705 Santa Ana
phone: +1 949 553 4280
FAX: +49 89 9595-5555
mail: investorrelations@identive-group.com
WWW: http://www.identive-group.com
sector: Computing & Information Technology
ISIN: US45170X1063
indexes: NASDAQ
stockmarkets: free trade: Berlin, München, Hamburg, Düsseldorf, Stuttgart,
Nasdaq: New York, Open Market / Entry Standard: Frankfurt
language: English