Scott Carter, Previous Executive Chair of the
Board and Current Chairman of the Board, Appointed Interim CEO
Search Underway to Identify Permanent CEO
Mitek (NASDAQ: MITK, www.miteksystems.com, “Mitek” or the
“Company”), a global leader in digital identity and digital fraud
prevention, today announced that the Company’s Board of Directors
has appointed Scott Carter as Interim CEO, effective June 1, 2024.
The Company will terminate the employment of Mitek’s current CEO,
Max Carnecchia, on May 31, 2024. At the request of the Board, Mr.
Carnecchia will remain a member of the Board of Directors and be
available to assist with the CEO transition process. The Board has
engaged the services of a leading global executive search firm and
has commenced the search for a new CEO.
“Mitek is well positioned to enter its next phase of growth,”
said Donna Wells, Mitek’s Nominating and Governance Committee
Chairperson. “Now that Mitek has successfully navigated through a
period of delayed SEC filings, the Board of Directors determined
that putting new leadership in place would provide the best path
forward to realize those significant opportunities.”
“While we conduct our search for a new CEO, Scott’s highly
successful track record across multiple segments of the identity
and financial services industry, deep knowledge of Mitek, and
strong operational skills make him the ideal executive to lead a
seamless transition for the Company,” said Wells.
Scott Carter is a highly experienced technology leader with a
proven track record for accelerating growth in identity and
financial technology organizations. In his role as Executive
Chairman of Mitek in 2023, Scott was deeply involved in Mitek's
daily operations, engaging directly with customers and partners.
Consequently, he has a deep understanding of the Company and well
established relationships with leaders and teams across the
Company. He will hit the ground running, benefiting from the
company specific knowledge and experience necessary to successfully
lead the Company while the search for a new CEO is conducted.
Scott Carter said, “Mitek’s recent product innovations,
including Check Fraud Defender, MiVIP, MiPass, and ID R&D
biometrics, are gaining market acceptance, positioning us well for
continued profitable growth. I believe deeply in our vision and
look forward to working with the leadership team and partners to
continue strengthening our business and driving growth through
operational discipline and execution. My focus will be on our
people, our operations, and our customers, working together to
advance our strategy.”
Wells concluded, “On behalf of the Board, we are deeply grateful
for Max’s many contributions to Mitek over the past five-plus
years. Max was instrumental in establishing and growing Mitek’s
identity and fraud management business, which will form the
foundation for our future success.”
“Working with our amazing employees, customers, and partners
through a period of tremendous change and growth has been an
honor,” said Max Carnecchia. “I am proud of the leading identity
and fraud management offerings we have built, which positions the
Company well for the future.”
Kimberly S. Stevenson will become the lead independent director
on June 1, 2024.
About Mitek Systems, Inc.
Mitek (NASDAQ: MITK) is a global leader in digital access,
founded to bridge the physical and digital worlds. Mitek’s advanced
identity verification technologies and global platform make digital
access faster and more secure than ever, providing companies new
levels of control, deployment ease and operation, while protecting
the entire customer journey. Trusted by 99% of U.S. banks for
mobile check deposits and 7,900 of the world’s largest
organizations, Mitek helps companies reduce risk and meet
regulatory requirements. Learn more at www.miteksystems.com.
[(MITK-F)]
Follow Mitek on LinkedIn and YouTube, and read Mitek’s latest
blog posts here.
Notice Regarding Forward-Looking Statements
Statements contained in this news release relating to the
Company or its management’s intentions, hopes, beliefs,
expectations or predictions of the future, including, but not
limited to, statements relating to the Company’s search for a new
CEO, Mr. Carter’s ability to promote a seamless transition and his
ability to successfully lead the Company, the Company’s profitable
growth and strategy, including the next phase of growth, the best
path for growth and driving profitable growth, the Company’s
ability to strengthen its business and the Company’s future growth,
are forward-looking statements. Such forward-looking statements are
subject to a number of risks and uncertainties, including, but not
limited to, risks related to the Company’s ability to withstand
negative conditions in the global economy, a lack of demand for or
market acceptance of the Company’s products, the impact of the
Company’s acquisition of HooYu Ltd. including any operational or
cultural difficulties associated with the integration of the
businesses of Mitek and HooYu Ltd., the Company’s ability to
continue to develop, produce and introduce innovative new products
in a timely manner, the Company’s ability to capitalize on a
growing market, quarterly variations in revenue, the profitability
of certain sectors of the Company, the performance of the Company’s
growth initiatives, the outcome of any pending or threatened
litigation, and the timing of the implementation and launch of the
Company’s products by the Company’s signed customers.
Additional risks and uncertainties faced by the Company are
contained from time to time in the Company’s filings with the U.S.
Securities and Exchange Commission (SEC), including, but not
limited to, the Company’s Annual Report on Form 10-K for the fiscal
year ended September 30, 2023, as filed with the SEC on March 19,
2024 and its quarterly reports on Form 10-Q and current reports on
Form 8-K, which you may obtain for free on the SEC’s website at
www.sec.gov. Collectively, these risks and uncertainties could
cause the Company’s actual results to differ materially from those
projected in its forward-looking statements and you are cautioned
not to place undue reliance on these forward-looking statements,
which speak only as of the date hereof. The Company disclaims any
intention or obligation to update, amend or clarify these
forward-looking statements, whether as a result of new information,
future events or otherwise, except as may be required under
applicable securities laws.
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version on businesswire.com: https://www.businesswire.com/news/home/20240513727760/en/
Investor Contact: Todd Kehrli or Jim Byers MKR Investor
Relations, Inc. mitk@mkr-group.com
Mitek Systems (NASDAQ:MITK)
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