Oslo, Norway, 22 February 2018 - IDEX's Board of Directors has appointed Stan Swearingen as CEO, effective from 1 April 2018. Stan Swearingen is today Chief Products Officer at IDEX. The current CEO, Dr Hemant Mardia will continue until 31 March 2018, and will then join IDEX's Strategy Advisory Council.
In his five years as CEO, Hemant Mardia has transformed IDEX from a small-scale IP organisation into a leading player in the emerging biometric card market. The company has established a suite of mass market-ready solutions, a strong team, and deep partnerships with leading industry players. IDEX is rapidly entering a new volume commercialisation phase in biometric cards, and given the momentum and expected step change Hemant Mardia will now transition his role as CEO to Stan Swearingen, currently the Chief Products Officer of IDEX.
"As part of our ongoing succession planning, it became apparent that Stan was the logical choice to succeed Hemant. He has an impressive executive level track record of commercialising and leveraging relevant technology into fast growing, competitive markets. In addition, he has been a key part of IDEX's executive management team for the last 18 months, which ensures continuity for our customers, partners, employees and shareholders", says Morten Opstad, Chairman of IDEX. " I would like to thank Hemant for his significant contribution to IDEX. I am pleased that Hemant will continue in a role where we can benefit from his considerable experience and insight", he continues.
Prior to joining IDEX in May 2016, Stan served as Senior Vice President & General Manager MaxTouch Business Unit and Chief Technology Officer of Atmel, where he drove the overall technology strategy and direction for the company. Stan has also served as Senior Vice President and General Manager Biometric Products Division and Chief Technology Officer for Synaptics, where he was instrumental in the formulation of the biometric fingerprint strategy, including the acquisition of Validity. Prior to Synaptics, Stan held senior positions at semiconductor companies, such as MiniCircuits, Skyworks Solutions, Agere Systems and National Semiconductor.
"I look forward to leading IDEX into its next phase of commercialisation. I joined IDEX because of the strength of the team and the unique technology. Since then, my belief in IDEX's ability to succeed has only grown, and I'm confident the company will create significant value going forward", says Stan Swearingen.
As Stan Swearingen is a US citizen and resident, his appointment as CEO of IDEX ASA requires an exemption from the residency requirements under the Public Limited Companies Act. IDEX has duly filed for such an exemption.
Please find a Norwegian version of this announcement attached.
To download a picture of Stan Swearingen, please go to:
https://idex.no/newsroom/image-gallery/
Contact
Morten Opstad, Chairman of the Board, +47 918 67 737
Charlotte Knudsen, Director of IR and Communications, +47 9756 1959, charlotte.knudsen@idexbiometrics.com
Henrik Knudtzon, CFO, +47 9302 2827, henrik.knudtzone@idexbiometrics.com
About IDEX
IDEX is a leading developer of advanced off-chip fingerprint sensors and complete system solutions to a range of biometrically-enabled applications, including smart cards, Internet of Things (IoT) and mobile. The company's technology is based on a fundamentally unique architecture that delivers form factor flexibility and superior cost-performance characteristics. IDEX's total addressable market represents a fast-growing multi-billion unit opportunity.
IDEX ASA is traded on the Oslo stock exchange under the ticker IDEX.
For more information, please visit: www.idex.no
