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Mobileye Global Inc. (NASDAQ:MBLY), a leader in prepackaged software services with a market capitalization of $13 billion, announced on Monday the appointment of Patrick Bombach to its Board of Directors, effective January 29, 2025. The decision was made by the company’s Board of Directors, but the specific committees Mr. Bombach will serve on have yet to be determined. The appointment comes at a challenging time for the company, as InvestingPro data shows the stock has declined nearly 40% over the past year.
Patrick Bombach’s appointment comes with no disclosed family ties to any current director or executive officer of the company, nor does he have any material interest in any transactions that would necessitate disclosure under SEC regulations. The company maintains a strong financial position, with InvestingPro analysis showing liquid assets exceeding short-term obligations by a significant margin, reflected in a healthy current ratio of 6.53.
Mobileye, headquartered in Jerusalem, operates under the legal jurisdiction of Delaware and is recognized in the industry under the Standard Industrial Classification code for Services-Prepackaged Software (ETR:SOWGn) (7372). The company’s shares are traded on the Nasdaq Global Select Market.
This announcement was made in accordance with SEC regulations and is based on a press release statement from Mobileye Global Inc. The company maintains its commitment to corporate governance and the expansion of its board with qualified professionals.
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