NEXT Biometrics' CEO Ritu Favre to resign

NEXT Biometrics says it has started the process of identifying qualified candidates for the position of CEO. Ritu will continue to support the company and the board in her current role during her transition period. Once she transitions and until the position has been filled, current Chief Operating Officer Dan Cronin will serve as interim CEO. "We regret Ritu's decision to step down as NEXT Biometrics' CEO to join a US-based company. On behalf of the Board of Directors, I would like to thank Ritu for her leadership and dedication through a challenging period for the biometrics industry. We appreciate Ritu's strong contribution to NEXT Biometrics and wish her all the best for her personal and professional future," says Chairman Magnus Mandersson in a press release. "The decision to take on a new professional challenge is based on personal reasons and I am very grateful for the trust and support that I have received from the NEXT Board of Directors, my management colleagues as well as the entire NEXT team", says Ritu Favre. "I am extremely pleased about the progress that the Company has made over the past two years and I am convinced that the outstanding quality of NEXT`s fingerprint sensor technology, its dedicated growth strategy and the team`s passion are the cornerstones for the Company`s continued success."