ActivCard Announces Resignation of CEO

Wednesday 4 February 2004 09:58 CET | News

ActivCard has announced the resignation of George Garrick as its chief executive officer. William Crowell, chairman of the board, said that Garricks resignation was effective immediately and reflected a difference of opinion with the board of directors on the companys strategic direction.A search for a successor has begun. Garrick joined the company in October 2003. The board of directors has formed a special committee to assist the companys executive management team on both strategic and operational matters until a new chief executive officer is appointed. The executive management team will work closely with this special committee to ensure a smooth transition. The company also indicated that it expects to report revenues approximating $6.5 million and cash and short-term investments totaling approximately $229 million for the fourth quarter ended December 31, 2003.

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Categories: Payments & Commerce | Payments General
Countries: World
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