SAN DIEGO - Mitek Systems , Inc. (NASDAQ: NASDAQ:MITK), known for its digital identity verification and mobile capture technology, has announced the appointment of James (J.D.) Fay to its board of directors. Fay, currently serving as the CFO of Matterport, Inc. (NASDAQ: NASDAQ:MTTR), is set to join the audit committee of the board, bringing over 20 years of financial and operational experience to the company.
The addition of Fay to the board is part of Mitek's strategy to bolster its leadership as it focuses on scaling its recurring revenue streams and enhancing market position. Fay's tenure at Matterport saw the company nearly quadruple its revenues and successfully navigate a significant acquisition with CoStar Group (NASDAQ:CSGP). His expertise in transitioning to a SaaS model is expected to provide valuable insights to Mitek.
Fay's previous roles include CFO positions at View and NeoPhotonics (NYSE: NYSE:NPTN), as well as SVP and General Counsel at @Road (NASDAQ: ATRD), where he played a pivotal role in taking the companies public. A Harvard Law School graduate, Fay has also served as an attorney with Venture Law Group, advising on IPOs, M&A, and corporate governance.
Scott Carter, Chairman of Mitek Systems, expressed confidence in Fay's ability to contribute to the company's future, emphasizing his extensive experience in financial strategy and company growth. Fay echoed this sentiment, stating his eagerness to drive strategic initiatives for Mitek.
This announcement follows the recent appointment of Edward H. West as Mitek's CEO, further reinforcing the company's commitment to strong leadership. Additionally, Mitek disclosed that board member James C. Hale will not seek re-election at the 2025 annual meeting of stockholders, with Carter thanking him for a decade of service.
Mitek, trusted by the majority of U.S. banks and thousands of global organizations, aims to make digital access secure and efficient. The company's solutions are designed to reduce risk and comply with regulatory requirements.
The information in this article is based on a press release statement from Mitek Systems, Inc.
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