Press release from: 03 September 2012
Ad-hoc Press Release - SMARTRAC announces Changes in the Management Board
The Dutch Company SMARTRAC N.V. (stock abbreviation SM7) announces changes in the Management Board of the Company. The Supervisory Board will propose the appointment of M. Gregory O’Hara as Director A and Member of the Management Board at the SMARTRAC General Meeting of Shareholders to be held at the end of October 2012. Mr. O’Hara shall also be appointed Chief Executive Officer and Chairman of the Management Board.
Dr. Christian Fischer will resign from his position as CEO and Chairman of the Management Board of SMARTRAC N.V., effective September 3rd, 2012. He will, however, continue to serve as Director A of SMARTRAC N.V until December 31, 2012, and support Mr. O´Hara in a transition role until the end of 2012.
Mr. M. Gregory O’Hara is currently Chairman of Certares International Bank, LLC., and most recently served as Chief Investment Officer of JPMorgan Chase’s Special Investments Group. Prior to joining the private equity arm of JPMorgan’s One Equity Partners in 2005, he served as Executive Vice President of Worldspan and was a member of its Board of Directors. Prior to this, Mr. O’Hara was a management partner advising Citicorp Venture Capital and Ontario Teachers’ Pension Plan; served as Senior Vice President of Sabre; and worked in various capacities for Perot Systems. He also serves on the Boards of Travel Leaders Group and TV Guide Network. Mr. O’Hara holds a Master of Business Administration degree from Vanderbilt University.
Dr. Christian Fischer joined SMARTRAC at the end of 2005 and has been a member of the Management Board since the incorporation of SMARTRAC N.V. in January 2006. He has held the position of Chief Executive Officer (CEO) and Chairman of the Management Board since July 1, 2007. During this time, the Company has not only grown sales from EUR 25 Mio. in 2005 to some EUR 250 Mio. expected for 2012, but has also become the global leader in the RFID market as developer, manufacturer, and supplier of transponders and inlays for a broad base of applications in all current frequency standards.
SMARTRAC is the leading developer, manufacturer, and supplier of RFID and NFC transponders and inlays. The company produces ready-made and customized transponders and inlays used in access control, animal identification, automated fare collection, border control, RFID-based car immobilizers, electronic product identification, industry, libraries and media management, laundry, logistics, mobile & smart media, public transport, retail, and many more.
SMARTRAC was founded in 2000, went public in July 2006, and trades as a stock corporation under Dutch law with its registered headquarters in Amsterdam. The company currently employs about 4,000 employees and maintains a global research and development, production, and sales network.
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To the extent that this press release contains forward-looking statements, such statements are based on assumptions, planning and forecasts at the time of publication of this press release. Forward-looking statements always involve uncertainties. Business and economic risks and developments, the conduct of competitors, political decisions and other factors may cause the actual results to be materially different from the assumptions, planning and forecasts at the time of publication of this press release. Therefore, SMARTRAC N.V. does not assume any responsibility relating to forward-looking statements contained in this press release. Furthermore, SMARTRAC N.V. does not assume any obligation to update the forward-looking statements contained in this press release.