Precise Biometrics has announced that its next CEO has purchased 310,041 shares in the company.
The news comes soon after the announcement of previous CEO Håkan Persson’s abrupt resignation at the start of this week, with Stefan K. Persson to step in as the head of the company this summer. With Precise Biometrics having over 360 million shares outstanding, Stefan K. Persson’s purchase of a 310,041 will not give him an outsized stake in the company’s ownership; but with a value of roughly $66,000 at the time of writing, Persson’s investment is a symbol of a substantial personal investment in the company on his part.
It also demonstrates his faith in the ability of Precise Biometrics interim leadership, with CFO Göran Thuresson slated to act as CEO until Stefan K. Persson takes over on August 1st.
The company’s prospects for the year do seem appealing at the moment, with Precise Biometrics having recently announced that its algorithm software is being used in one of Visa’s first biometric payment card trials. This emerging market is expected to grow substantially over 2018, while Precise Biometrics is likely to continue seeing its technology proliferate in mobile devices and other consumer electronics.