Aware, Inc. Announces Resignation of co-Chief Executive Officer & Chief Financial Officer
BEDFORD, Mass., March 1, 2017 /PRNewswire/ -- Aware, Inc. (NASDAQ: AWRE), a leading supplier of biometrics software and services, announced that Richard P. Moberg has resigned, effective March 3, 2017, as co-Chief Executive Officer and co-President and Chief Financial Officer and Treasurer of Aware citing a desire to retire. Mr. Moberg will continue to serve as a member of the Board of Directors of Aware.
Kevin T. Russell, Aware's co-Chief Executive Officer and co-President, General Counsel has been named Chief Executive Officer, President and General Counsel. Mr. Russell will continue to serve as a member of the Board of Directors of Aware. Mr. Russell has been with Aware since April 2000 and has served as co-Chief Executive Officer and co-President, General Counsel since April 2011. David J. Martin, Aware's Controller, has been named Chief Financial Officer and Treasurer of Aware. Mr. Martin has served as Aware's Controller since October 2006 and previously served as Controller from October 1996 to October 2005.
Mr. Russell said, "We thank Rick for his many years of dedicated service to Aware. Rick's numerous and valuable contributions to Aware include helping to build the company's biometrics business as well as managing all of the company's financial reporting obligations. He has left behind a strong organization that is well positioned for the future. We wish him the best in his future endeavors and look forward to continuing to work with him as a member of our Board of Directors."
Mr. Russell continued, "We are happy to announce Dave's promotion to CFO. Dave has provided many years of valuable service in Aware's financial organization. His vast experience in financial reporting and with Aware's business will serve him well as he takes on the role of CFO."
About Aware Aware is a leading provider of biometrics software products and development services to governments, system integrators, and solution providers globally. Our products include SDKs, software components, workstation applications, and a modular, centralized, service-oriented platform. They fulfill a broad range of functions critical to biometric authentication and search, including face, fingerprint, and iris autocapture, image quality assurance, data compliance, capture hardware peripheral abstraction, centralized data processing and workflow, subsystem connectivity, and biometric matching algorithms. The products are used to enable identity-centric security solutions with biometrics for applications including border management, credentialing and access control, intelligence and defense, and law enforcement. Aware
is a publicly held company (Nasdaq: AWRE) based in Bedford, Massachusetts.
See Aware's website for more information about our biometrics software products.
Safe Harbor Warning Portions of this release contain forward-looking statements regarding future events and are subject to risks and uncertainties, such as statements concerning Aware being well positioned for the future and Mr. Martin serving Aware well in his new position as CFO. Aware wishes to caution you that there are factors that could cause actual results to differ materially from the results indicated by such statements.
Risk factors related to our business include, but are not limited to: i) our operating results may fluctuate significantly and are difficult to predict; ii) we derive a significant portion of our revenue from government customers, and our business may be adversely affected by changes in the contracting or fiscal policies of those governmental entities; iii) a significant commercial market for biometrics technology may not develop, and if it does, we may not be successful in that market; iv) we derive a significant portion of our revenue from third party channel partners; v) hardware revenue is likely to decline in future periods; vi) we face intense competition from other biometrics solution providers; vii) our business is subject to rapid technological change; viii) our software products may have errors, defects or bugs which could harm our business; ix) our business may be adversely
affected by our use of open source software; x) our intellectual property is subject to limited protection; xi) we may be sued by third parties for alleged infringement of their proprietary rights; xii) we must attract and retain key personnel; xiii) we rely on single sources of supply for certain components used in our hardware products; xiv) our business may be affected by government regulations and adverse economic conditions; xv) we may make acquisitions that could adversely affect our results, and xvi) we may have additional tax liabilities.
We refer you to the documents Aware files from time to time with the Securities and Exchange Commission, specifically the section titled Risk Factors in our annual report on Form 10-K for the fiscal year ended December 31, 2016 and other reports and filings made with the Securities and Exchange Commission.
Aware is a registered trademark of Aware, Inc. Any other trademarks appearing herein are the property of their respective owners.