02.06.2008 - LaserCard Corporation (NASDAQ:LCRD), a leading provider of secure ID solutions, today announced that the Board of Directors has appointed Robert T. DeVincenzi as the companys new president and chief executive officer and elected him to the Board. DeVincenzi joined LaserCard on June 2, 2008, as president and will become chief executive officer the day after we file our Form 10-K which we expect to file on or before June 11, 2008.
DeVincenzi takes the reins from Bernard Bailey, the chairman of the board of directors, who has served as interim CEO since the end of March. Bailey will maintain his position on the board of directors and will continue to play a vital role in the company.
"We are very excited to be able to bring a CEO onboard with Bobs breadth of experience. His combination of operational leadership and sales experience provides LaserCard with the insights and experience that the company needs to execute on our growth plans," Bailey said. "Bob has developed and implemented strategic growth plans and built companies from the ground up. As the market for secure identity cards and solutions continues to grow globally, Bob has the experience and track record to ensure that LaserCard takes full advantage of the opportunities in this exciting marketplace."
DeVincenzi was most recently with Solectron Inc., where he was Senior Vice President of Corporate Development. Solectron recently merged with Flextronics. He was president and CEO of two venture-backed firms, Inkra Networks, Inc., and Ignis Optics, Inc., and filled progressively more senior sales and marketing positions at Ditech Communications, Inc, Bay Networks, Inc., NORTEL, Compression Labs, Inc. and AT&T.
"I am very pleased to join a company with such an outstanding reputation in the secure identity business," said DeVincenzi. "The LaserCard team has positioned the company for growth as demand for its industry leading products and solutions continue to grow worldwide. LaserCards success in North America, the EU, Africa, and in the Middle East makes it a true global provider of secure identity products and solutions. I look forward to building on this record of success." |
