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Image Sensing Systems Announces A Change In Executive Leadership

Stocks in this article: ISNS

SAINT PAUL, Minn., Aug. 13, 2012 (GLOBE NEWSWIRE) -- Image Sensing Systems, Inc. (Nasdaq:ISNS), announced today that Kenneth R. Aubrey's employment as president and chief executive officer (CEO) of Image Sensing Systems, Inc. has been terminated, effective immediately. The board has named Kris B. Tufto, a member of Image Sensing Systems' board, as interim president and CEO. Tufto has served as a member of the board since September 2011. He will continue to serve on the board, but will step down from the three board committees because his role as interim president and CEO positions him as a non-independent board member. The Board expects to initiate a search for a new president and CEO in the near-term.

"Our view is that Image Sensing Systems' assets are strong and yet the company is underperforming against the opportunity," said Jim Bracke, chairman of the board. "The board's decision to make a leadership change was made after ongoing consideration and a deliberative process that determined that Image Sensing Systems was not taking full advantage of the strength of its product offering given the market opportunity. The board has determined that the time is right for a leadership change and fresh perspective, and we are pleased to have Kris lead us during this interim period as we further position Image Sensing Systems to capitalize on future growth opportunities."

Tufto brings significant leadership experience in software, technology and product marketing to his new role as interim CEO. He has served on the board of Sajan, Inc., a publicly-held company, since February 2010. From 2010 to 2012, Tufto was chief revenue officer at Code42, a software solutions and data protection company. Previously, he was chief executive officer at MarketingBridge, a global channel marketing company, and a consultant at W3i, a provider of application and mobile marketing solutions. Tufto has also served in leadership positions for various technology companies. He has a Bachelor's of Sciences Degree in Electrical Engineering from North Dakota State University.

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