Oslo ,August 30, 2023 - Ulf Ritsvall, Senior Vice President of Sales and Marketing atNEXT Biometrics has been appointed the new CEO ofNEXT Biometrics . He succeeds current CEOPeter Heuman , who has held the position since 2019. Heuman will continue as advisor to the Board of Directors and CEO. The change in leadership is effective as perOctober 1, 2023 . "Ulf Ritsvall has extensive knowledge of the biometric and technology industries and a large, global network, which both will be essential for NEXT on its journey to profitability. He has also lived several years inAsia and thus has unique experience of our main markets,India andChina ", saysPetter Fjellstad , Chairman of the Board atNEXT Biometrics . "There is no doubt thatPeter Heuman has been the architect of the turnaround of this company. He established a new strategic direction, reallocated resources, and secured focus on products where NEXT has a clear competitive advantage and high margins. NEXT is now on the verge of becoming profitable. Focus is entirely on growing sales, and we have therefore appointed ourChief Sales Officer as the new CEO, says Fjellstad. "I am proud of what we have achieved during my time as CEO in NEXT. The established growth agenda, with currently over 40 customers, secures that NEXT is well positioned for a profitable future, saysPeter Heuman . - I have agreed to be an advisor to the board and CEO going forward. I hold a substantial financial incentive and my continued focus will contribute to NEXT capitalizing on the position we have created, now from a more strategic level. "I am honored to be appointed the CEO ofNEXT Biometrics . NEXT has a unique fingerprint technology and strong biometrics know-how, which I believe can bring us to profitability within the coming 7-9 months. We have a great, customer-centric team and I look forward to accelerating NEXT's growth journey by increasing recurring revenues together with my colleagues", says Ulf Ritsvall. Ulf Ritsvall has a strong track record of senior executive positions within both the telecom and biometrics industry. He holds a BA in electrical engineering from theUniversity of Lund . This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. AboutNEXT Biometrics NEXT provides advanced fingerprint sensor technology that delivers uncompromised security and accuracy for the best possible user experience in the smart card, government ID, access control and notebook markets. The company's patented NEXT Active ThermalTM principle allows the development of large, high quality fingerprint sensors in both rigid and flexible formats.NEXT Biometrics Group ASA (www.nextbiometrics.com) is headquartered inOslo , with sales, support and development operations inSeattle ,Taipei , Bengaluru andShanghai . # # # # # For more information, please contact:Petter Fjellstad , Chairman of the Board atNEXT Biometrics Email: pf@ghcapital.ch Phone: +47 928 91 180This stock exchange announcement was published byEirik Underthun , CFO atNEXT Biometrics Group ASA , onAugust 30, 2023 , at18:31 CEST .
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