Aware, Inc. Announces Promotion Of Edmund Reiter To CEO; Chairman And CEO Michael Tzannes To Become Executive Chairman
BEDFORD, Mass., Dec. 7 /PRNewswire-FirstCall/ -- Aware, Inc. (Nasdaq: AWRE), a leading technology innovator and software supplier to the telecommunications and biometrics industries, today announced the promotion of Edmund C. Reiter to Chief Executive Officer, and the appointment of Michael A. Tzannes to Executive Chairman. Mr. Reiter will also retain the title of President. These key executive appointments will facilitate the next phase of the company's product and financial transformation. The organizational change will take effect on January 1, 2010.
As Executive Chairman, Mr. Tzannes will continue to lead the company's intellectual property initiatives and oversee key strategic, corporate and governance activities.
Mr. Tzannes said, "We are entering 2010 with a strong balance sheet and, now that the divestiture of our licensing business to Lantiq has closed, we expect a significant reduction in our quarterly expenses going forward. Ed has a long track record of management excellence and innovation in product development, sales and marketing. I am very confident he will successfully transition to the role of CEO."
Mr. Reiter joined Aware in 1992, and has been President since 2001. He has been responsible for product and market developments for Aware's biometrics and DSL test businesses.Edmund Reiter said: "Aware is focused on dynamic and growing markets in both our DSL test and biometrics businesses. We are encouraged by our progress recently in these businesses and are optimistic about 2010 and our longer term prospects in these markets." About Aware Aware is a leading technology and software supplier for the telecommunications and biometrics industries. Aware has pioneered innovations at telecommunications standards-setting organizations for DSL and home networking. Telecom equipment vendors and phone companies use Aware's DSL test and diagnostics modules and Dr. DSL® software to provision and troubleshoot DSL circuits globally. Aware is also a veteran of the biometrics industry, providing biometric and imaging software components used in government systems worldwide since 1992. Aware's interoperable, standard-compliant, field-proven imaging products are used in a number of applications, from border management to criminal justice to medical imaging. Aware is a publicly held company (Nasdaq: AWRE) based in Bedford, Massachusetts. www.aware.com
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