AuthenTec, announced that Larry Ciaccia, who currently serves as President, has been appointed to the newly created position of President and COO, effective immediately. Ciaccia, who as President has primarily been responsible for marketing and sales, will now be responsible for the overall day-to-day operations of AuthenTec. In this expanded role, he will continue to report to AuthenTec CEO Scott Moody who will focus more on AuthenTec's strategic initiatives including mergers and acquisitions as the company solidifies its transformation into a leading supplier of security, identity management and touch control solutions.
“As President, Ciaccia has played a critical role in helping to grow AuthenTec and position the company for sustained growth and future profitability,” said Scott Moody. “Ciaccia's deep familiarity with AuthenTec and its operations will serve him well in his expanded role, and I look forward to working with him to aggressively execute on our strategies.”
The company also announced the resignation of Gary Larsen, CFO, who is leaving to pursue another CFO opportunity at a larger enterprise. Larsen's resignation is effective August 15, 2010. The company has retained an executive search firm to conduct a national search for a new CFO.
Moody continued, “The entire organization is grateful to Larsen for his leadership and the many contributions he made to AuthenTec during his tenure. Larsen played an instrumental role in helping us go public and implementing the controls and procedures necessary for a public company. He has also groomed a stellar team behind him. Frankly, while I am sad to see Larsen leave on both a professional and personal basis, this is a very good opportunity for Larsen and we wish him the best in his future endeavors.”
Larsen said, “It has been a great pleasure to work at AuthenTec, which is at the forefront of a dynamic and expanding industry and is well positioned for future growth. While I have decided to pursue another exciting opportunity, I leave AuthenTec in very good hands. I want to thank AuthenTec's Board and management team for their support and I look forward to watching AuthenTec build upon its recent successes.”