Chief Financial Officer

RNS Number : 3203I

Seeing Machines Limited

23 November 2018

 

Seeing Machines Limited

23 November 2018

Chief Financial Officer

Seeing Machines Limited (AIM: SEE, "Seeing Machines" or the "Group"), the advanced computer vision technology company that designs AI-powered operator monitoring systems to improve transport safety announces that James Palmer, Chief Financial Officer, is to step down from his position for personal reasons.

James leaves with the Board's appreciation and thanks for the substantial contribution he has made during his time with Seeing Machines. Over the past four years, the Group has grown from 50 employees to over 200 and achieved a four-fold revenue increase¹.  James has been fundamental in supporting this growth through new system implementation, business process improvement, office expansion to the UK, Germany and Japan, as well as the introduction of maiden debt to fund program development in response to increased demand for Seeing Machines' technology across multiple transport sectors. James has also worked closely with our brokers and advisors in that time and been instrumental in a number of successful capital raisings.

The Group is in the final stages of appointing a new Chief Financial Officer and expects to make an announcement shortly. James will remain with Seeing Machines until mid-January in order to provide an orderly and comprehensive handover to his successor.

Ken Kroeger, CEO at Seeing Machines said:

"The last few years at Seeing Machines have been times of constant change and growth. This growth has been driven by a number of factors, including James' hard work and dedication to the business.

I'd like to personally and publicly thank James for his tremendous contribution to the business, his support and his friendship during his time here and to offer him and his family our best wishes for the future."

¹on a normalised basis excluding the one-off license fee from Caterpillar in FY16

Enquiries:

Seeing Machines Limited www.seeingmachines.com	[phone]
Ken Kroeger - CEO Sophie Nicoll - VP, Marketing & Communications
Cenkos Securities plc (Nominated Adviser and Joint Broker) Neil McDonald/Beth McKiernan/Pete Lynch	[phone]
Canaccord Genuity Limited (Joint Broker)	[phone]
Simon Bridges/Richard Andrews
Instinctif Partners	[phone]
Adrian Duffield/Kay Larsen/Chantal Woolcock

About Seeing Machines - www.seeingmachines.com 

Seeing Machines (LSE: SEE), a global company headquartered in Australia, is an industry leader in computer vision technologies which enable machines to see, understand and assist people. The Company's machine learning vision platform has the know-how to deliver real-time identification and understanding of drivers through Artificial Intelligence (AI) analysis of heads, faces and eyes. This insight enables Driver Monitoring Systems (DMS), which monitor driver/operator identification and attention and can detect drowsiness and distraction across multiple transport sectors.

Seeing Machines develops DMS for the Automotive, Commercial Fleet, Aviation, Rail and Off-Road markets. The Company has offices in Australia, USA, Europe and Asia, and delivers multi-platform solutions to industry leaders in each vertical.

DMS is becoming a core safety technology integrated into ADAS offerings for the automotive industry, particularly with the development of semi-autonomous and self-driving cars. DMS is also increasingly seen to be an integral safety feature across the Commercial Transport & Logistics industry globally. 

 

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