TIDMSEE
RNS Number : 4830E
Seeing Machines Limited
09 May 2017
Seeing Machines Limited
("Seeing Machines", the "Company" or the "Group")
Seeing Machines announces new CEO
Current CEO becomes Chairman
9 May 2017
Seeing Machines (AIM:SEE), an industry leader in computer vision
based human sensing technologies which enable breakthrough
solutions in safety, performance and user experiences, is pleased
to announce the appointment of Mike McAuliffe as Chief Executive
Officer of Seeing Machines Limited and member of the Board of
Directors, effective immediately.
This appointment recognises the need for a different skill set
to drive rapid global expansion as it capitalizes on major market
opportunities for its technology platform with industry leading
global customers. Mike will focus on leveraging the Company's
leadership in computer vision, machine learning and vision
processors to scale the business in the automotive, fleet and
transport markets and extend into innovative new applications and
markets.
Mike was appointed CEO of Seeing Machines' Automotive business
(Fovio) in September 2016. In this role, Mike has been instrumental
in developing Seeing Machines' strategy. He has helped build up
Seeing Machines' global organisation and establish early leadership
in the rapidly growing market for Automotive Driver Monitoring
Systems (DMS) for ADAS and Autonomous Driving technology.
Based in Silicon Valley, California, Mike brings over two
decades of senior management experience in successfully building an
array of global private and public high technology businesses in
the semiconductor, embedded software and electronics industry,
ranging from start-ups through extensive M&A to global
corporations in multiple market verticals. Prior to joining Seeing
Machines, he was CEO of Powervation Inc, a Digital Power Processor
semiconductor company which he helped build from start-up to a
market leader in Software-defined-Power and which was acquired by
Rohm Semiconductor in 2015, where he spent a year leading their
global digital power business expansion.
Mike earned a B.Eng (electronics) from UCC (Ireland), MBA from
Henley Management College (UK) and is a graduate of Harvard
Business School (AMP), USA.
Ken Kroeger, outgoing CEO, will be appointed to the position of
Executive Chairman with immediate effect. Ken has led Seeing
Machines as CEO since 2011. Under his leadership the Company has
been strategically transformed into a recognised industry leader in
computer vision, eye-tracking and intervention safety products and
services with leading customers such as Caterpillar and is now
poised for growth in automotive and commercial fleet markets. Terry
Winters, existing Chairman, is stepping down from the Board
effective today. Jim Walker, an existing non-executive director is
to become non-executive Deputy Chairman, also effective today.
Mike McAuliffe commented: "I am honored and excited to be
appointed CEO of Seeing Machines. My short time to date in the
Company working with our passionate and talented team and our
industry leading customers has given me deep conviction in our
technical leadership, the market opportunities for us and our
ability to build a large global business around that. The fact our
technology helps address drowsiness and distraction to make
driving, trucking and transport safer underpins our business with
extra purpose. I would like to thank Terry for his major
contribution as Chairman and Ken for his inspired leadership to
date. It is going to be an exciting journey".
Ken Kroeger commented: "I am thrilled to be appointed Executive
Chairman of Seeing Machines. I am really proud of what we have
achieved since I joined in 2011 to build and transform the Company
to our strong position today. I would also like to recognise the
invaluable role played by my predecessor, Terry Winters who has
guided the Board and Leadership team as we have evolved our
strategy, matured organisationally, developed a very focussed
high-performance team and transformed the Board of Directors. I
have worked closely with Mike in the last six months and he has all
the right expertise and experience to help lead the Company to the
next level. I look forward to working with him on this next phase
of our growth strategy and developing new markets for our
technology."
Outgoing Chairman Terry Winters commented: "As Chairman, it has
been a privilege to lead the Board of Seeing Machines over the past
five years and to help navigate the Company through its
transformation. I am very proud of what has been achieved as the
Company has fine-tuned its strategy and matured into an
organisation that is very focussed on remaining a leader in its
chosen markets and growing long term shareholder value. The Board
and I believe that with Mike leading the Company as CEO under the
Chairmanship of Ken, we have the right team with the right skills,
experience and track record to lead Seeing Machines and deliver its
next phase of growth across all lines of business, delivering
significant growth in shareholder value."
The following disclosures are required regarding Mike
McAuliffe's appointment pursuant to Schedule Two paragraph (g) of
the AIM Rules for Companies:
Full name and age: Michael Vincent McAuliffe, aged 52
Current directorships and partnerships: Nil
Past directorships and partnerships held over the last 5
years:
Powervation Ireland Ltd
Powervation Inc.
Digital Power Processors
Mike McAuliffe has no shareholding in the Company. The Seeing
Machines Remuneration Committee intends to award to Mike a share
based reward package and a further announcement will be made when
granted.
No further disclosure is required under AIM Rule 17 and
paragraph (g) to Schedule Two of the AIM Rules with respect to Mike
McAuliffe.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
Enquiries:
Seeing Machines Limited www.seeingmachines.com /
+61 2 6103 4700
Ken Kroeger, Executive Ken.Kroeger@seeingmachines.com
Chairman
Mike McAuliffe, CEO Mike.McAuliffe@seeingmachines.com
Media inquiries Sophie.Nicoll@seeingmachines.com
finnCap Ltd, Broker for Seeing Machines
Ed Frisby/Emily Watts,
Corporate Finance +44 20 7220 0500
Tim Redfern/Richard
Chambers, Corporate
Broking
About Seeing Machines
Seeing Machines, (AIM: SEE) is an industry leader in computer
vision based human sensing technologies which enable breakthrough
solutions in safety, performance and user experiences. With more
than 15 years of deep R&D investment and experience, Seeing
Machines uses advanced sensing technologies to track heads, eye and
faces in order to variously detect, interpret and predict cognitive
states and issues such as drowsiness, distraction (such as cell
phone) and deliver precision eye gaze tracking in all challenging
real world conditions such as in-vehicle during day, night,
sunlight and impediments such as sunglasses. It delivers its
technology platform in a range of products from embedded software
to proprietary Fovio vision processors to full systems - also
providing a 24/7 real time monitor and intervention service for
commercial trucking and mining sectors - which saves lives, costs
and protects assets. Seeing Machines' technology has been adopted
as the benchmark by global industry leaders across the spectrum of
automotive, mining, transport and aviation industries, as well as
leading universities, research groups and transportation
authorities. Seeing Machines is headquartered in Canberra,
Australia and currently has offices and people in Melbourne,
Tucson, Silicon Valley and Detroit.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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