Image Sensing Systems (ISS) has announced that Kenneth R Aubrey’s employment as president and chief executive officer of the company has been terminated with immediate effect. The board has named Kris B Tufto, who has served as a member of the board since September 2011, as its interim president and CEO. Tufto will continue to serve on the board, but will step down from the three board committees, because his role as interim president and CEO positions him as a non-independent board member. The company expects to initiate a search for a new president and CEO in the near-term. The company has also announced that it has augmented its leadership team with the addition of Dale Parker as a board director; replacing Tufto on the three board committees. Parker has previously served in numerous chief financial officer and vice president roles for manufacturing companies. ISS has also announced that Michael Doyle has stepped down as a board director.
Announcing the management changes, Jim Bracke, chairman of the ISS board, said, “Our view is that the company’s assets are strong and yet we are underperforming against the opportunity. The board’s decision to make a leadership change was made after ongoing consideration and a deliberative process that determined that the company was not taking full advantage of the strength of its product offering, given the market opportunity. The board has determined that the time is right for a leadership change and fresh perspective, and we are pleased to have Kris lead us during this interim period, as we further position ISS to capitalize on future growth opportunities.”
On his new role, Tufto commented, “I welcome the opportunity to lead Image Sensing Systems during this very exciting period and look forward to working with the team to build upon the significant assets in place to help the company accelerate value creation for its shareholders. The recent passage of the MAP-21 transportation bill should unlock much of the pent-up demand for ITS spending, and we can benefit from this significant event. Additionally, our state-of-the-art and industry-leading Hybrid Duo product continues to gain traction, and we are ready to take advantage of the growth opportunities ahead of us.” ISS produces Autoscope video traffic detection equipment, RTMS (Remote Traffic Microwave Sensor) radar products and the CitySync automatic number plate recognition (ANPR) system.
15 August 2012
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