Good Evening
Good Evening

Intellicheck board asks CEO to step down; names interim CEO

Bill White, Intellicheck's CFO, has been named interim

Bill White, Intellicheck's CFO, has been named interim president and interim chief executive. Credit: Intellicheck Inc.

Intellicheck Inc., a Jericho-based provider of identification authentication systems, has named chief financial officer Bill White as interim president and interim chief executive officer, replacing William Roof.

In a government filing Tuesday, the publicly traded company said Roof, 63, who had served as president and CEO since October 2014, agreed to retire at the request of the board of directors, which was negotiating separation and consulting agreements with him.

White, 57, will continue to serve as CFO, a post he has held for more than five years, the company said.

“We’d all like to express our thanks to Bill Roof for his three years of hard work rebranding our products, cutting expenses and reorganizing Intellicheck,” chairman of the board Michael Malone said in a statement.

The company’s revenue fell about 45 percent in 2016 to $3.8 million from the previous year. In the quarter ended June 30, Intellicheck posted revenue of $951,334 versus $940,354 in the year-earlier period, and narrowed its net loss to $1.1 million from $1.8 million.

In May, the 23-year-old company changed its name to Intellicheck Inc. from Intellicheck Mobilisa Inc.

Shares of Intellicheck fell nearly 6 percent Tuesday, the day of the SEC filing, but gained back 2 percent Wednesday to close at $2.45. The stock has gained more than 40 percent in the past 12 months.

Intellicheck makes software used to verify identification such as driver’s licenses for the retail, hospitality, law enforcement, transportation and other sectors.

More news