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STOCKHOLM - Neonode Inc. (NASDAQ: NEON), known for its touch sensor technology, has appointed Daniel Alexus as its new President and Chief Executive Officer, set to take the helm on March 31, 2025. The announcement comes as the company, currently valued at $140 million, aims to transition into a profitable enterprise through strategic licensing of its proprietary technologies. According to InvestingPro data, the company has yet to achieve profitability in the last twelve months.
Ulf Rosberg, Chairman of the Board, expressed confidence in Alexus’s capacity to lead the company, citing his "proven track record of outstanding business leadership and high technical skills." Rosberg believes these qualities are key to Neonode’s future success, particularly as the company maintains a strong financial position with a current ratio of 10.92, indicating robust liquidity.
Alexus, 40, brings a wealth of experience from his tenure at Ericsson, where since 2018, he has been the Executive, Global Head of Innovation and Founder of Ericsson ONE, an innovation accelerator. His career at Ericsson began in 2010, and he has held several senior roles within the company. He is also equipped with a Master of Science in Engineering & Management from the KTH Royal Institute of Technology in Stockholm.
In his statement, Alexus conveyed his enthusiasm for joining Neonode and his commitment to driving growth and development within the company. He plans to leverage Neonode’s technology platforms and engineering expertise to accelerate commercial success and sustainable growth, aiming to deliver value to customers, employees, and shareholders alike.
The appointment is part of Neonode’s broader strategy to reposition itself in the market by capitalizing on its technology licensing opportunities, particularly to leading suppliers and original equipment manufacturers (OEMs).
This move is expected to be closely watched by investors and industry observers as Neonode transitions under new leadership. The company’s focus on innovation and growth in the competitive technology sector highlights the importance of experienced leadership to steer the company towards its financial goals.
The information about Daniel Alexus’s appointment is based on a press release statement.
In other recent news, Neonode Inc. announced its earnings results for the fiscal year ending December 31, 2024. The earnings release was disclosed through an 8-K filing with the Securities and Exchange Commission. The details of Neonode’s financial performance were presented in Exhibit 99.1 of the filing. However, the company noted that this information should not be considered "filed" for regulatory purposes. Fredrik Nihlén, the Interim President and CEO, signed off on the report, ensuring its accuracy and authorization. Investors can access the full earnings release attached to the 8-K filing for detailed financial statements. These developments provide insight into Neonode’s financial condition as of the end of the 2024 fiscal year.
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