- After about five and a half years in the position
- Praise and thanks for Carnecchia
- Scott Carter taking over temporarily
- Search for a successor
- Carnecchia kept it short and said 42 words
(exechange) — San Diego, California, May 13, 2024 — Max Carnecchia, chief executive of Mitek, leaves his position. As announced by Mitek Systems Inc. in a news release and in a regulatory filing published on Monday, May 13, 2024, Scipio (Max) Carnecchia leaves his post as chief executive officer at the provider of identity-verification technologies, after about five and a half years in the role, effective May 31, 2024.
Generally speaking, it raises questions when a CEO leaves his post at short notice.
Mitek will undertake a search for a successor.
Max Carnecchia’s duties as CEO will be taken over temporarily by Scott Carter, previously Executive Chairman at Mitek Systems Inc., as Interim Chief Executive Officer.
“Successfully navigated through a period of delayed SEC filings”
Mitek did not give an explicit reason for Max Carnecchia’s departure from the CEO post. Donna Wells, Mitek’s Nominating and Governance Committee Chairperson, stated: “Mitek is well positioned to enter its next phase of growth. Now that Mitek has successfully navigated through a period of delayed SEC filings, the Board of Directors determined that putting new leadership in place would provide the best path forward to realize those significant opportunities.”
Precise information regarding Max Carnecchia’s future plans was not immediately available.
“Terminate”
Mitek said: “The Company will terminate the employment of Mitek’s current CEO, Max Carnecchia, on May 31, 2024.”
Mitek further said: “On May 9, 2024, the Board of Directors of the Company … notified Scipio “Max” Carnecchia that his employment as the Company’s Chief Executive Officer would terminate as of May 31, 2024.”
Share price increase since May 2019
The announcement follows an increase in Mitek Systems Inc.’s share price of 22% since May 2019.
In the position of CEO since 2018
Max Carnecchia became CEO of the Company in 2018.
At the request of the Board, Carnecchia will remain a member of the Board of Directors and be available to assist with the CEO transition process.
Carnecchia has served as the Chief Executive Officer and as a director of Mitek since November 2018.
From October 2017 until July 2018, Carnecchia served as the Chief Executive Officer and board member of Illuminate Education, Inc., the market-leading software as a services education platform.
Prior to Illuminate, Carnecchia was the President and Chief Executive Officer of Accelrys, Inc., and has also served on the Accelrys board from 2009 until its acquisition in 2014 by Dassault Systemes.
After the acquisition, Carnecchia continued to serve as Chief Executive Officer of that business, which was renamed BIOVIA.
Carnecchia previously served as President and Interim Chief Executive Officer of Interwoven, Inc., a content management software company, which was acquired by Autonomy Corporation plc in January 2009.
Prior to joining Interwoven; Carnecchia served as Vice President of Global Sales of Xoriant Corporation, a software product development company, from April 2000 to January 2001, and as Vice President of Sales and Services of SmartDB Corporation, a provider of data integration toolkits for systems integrators and IT organizations, from September 1996 to February 2000.
Carnecchia has demonstrated significant leadership skills in his Chief Executive Officer roles at Accelrys, Interwoven, BIOVIA and Illuminate Education, Inc. and as Vice President of Xoriant and SmartDB, and brings more than two decades of high technology experience to his position on the Board.
During the past five years, Carnecchia has served as a member of the boards of directors of: Guidance Software, Inc., Agilysys, Inc., Accelrys, Inc., and DHI, Inc.
Carnecchia holds a Bachelor of Engineering in Electrical Engineering from Stevens Institute of Technology.
42 words by Max Carnecchia
In the release announcing his departure as CEO of Mitek Systems Inc., Max Carnecchia received praise and thanks.
In the release announcing his departure as CEO, Max Carnecchia kept it short and said 42 words.
“I am proud”
Max Carnecchia stated: “Working with our amazing employees, customers, and partners through a period of tremendous change and growth has been an honor. I am proud of the leading identity and fraud management offerings we have built, which positions the Company well for the future.”
The above text is an excerpt from the exechange report 21.2024 ($), publication date May 20, 2024.