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STOCKHOLM - Neonode Inc. (NASDAQ: NEON), a technology company with a market capitalization of $130 million and an impressive 96% gross margin, announced today that Didier Schreiber will join its Board of Directors as a Class I Director. Concurrently, Cecilia Edström will step down from her position as a Class I Director due to other commitments.According to InvestingPro data, Neonode has demonstrated remarkable market performance with a 433% return over the past year, despite facing revenue challenges.
Schreiber brings a wealth of experience to Neonode, having held several senior roles in the automotive industry, including Senior Vice President at ZEEKR Technology EU AB/CEVT. He is also the Owner and CEO of Rondiné Consulting. His academic credentials include a PhD in Combustion Technology from Ecole Centrale de Paris - Chalmers University of Technology, with a focus on the Ariane rocket engine.
In a statement, Schreiber expressed enthusiasm about joining Neonode's Board, highlighting the company's strong technology focus and potential for future growth. Ulf Rosberg, the Chairman of the Board, acknowledged Schreiber's valuable automotive industry experience and expressed anticipation for a productive collaboration.
Rosberg also extended gratitude to Edström for her contributions to the company during her tenure from 2022 to 2025.
This board change comes as Neonode continues to position itself for profitable growth, leveraging its portfolio of advanced technological solutions. The company's leadership believes that Schreiber's background will be particularly beneficial during this critical phase of development, especially as the company approaches its next earnings announcement on May 14, 2025. Based on InvestingPro analysis, while the company maintains strong liquidity with more cash than debt, analysts anticipate continued sales decline in the current year.For investors seeking deeper insights, InvestingPro offers a comprehensive research report on Neonode, along with 8 additional key ProTips that could help inform investment decisions.
The information regarding these board changes is based on a press release statement issued by Neonode.
In other recent news, Neonode Inc. announced its fiscal year earnings results for the year ending December 31, 2024. The details were disclosed in an 8-K filing with the Securities and Exchange Commission, providing a comprehensive view of the company's financial condition. Neonode clarified that this information should not be considered "filed" for regulatory purposes. Additionally, Neonode has appointed Daniel Alexus as its new President and CEO, effective March 31, 2025. Alexus brings extensive experience from his previous role at Ericsson, where he was the Global Head of Innovation. This leadership change is part of Neonode's strategy to enhance its market position by leveraging technology licensing opportunities. The company aims to transition into a profitable enterprise under Alexus's guidance. These developments are closely watched by investors as the company focuses on innovation and growth in the competitive technology sector.
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