Board of Directors Initiates Search for New CEO to Lead Company's Next Phase of Growth
TUCSON, Ariz., Sept. 19, 2019 /PRNewswire/ -- The Board of Directors of AudioEye, Inc. (AEYE), a leading developer of digital accessibility solutions that provide barrier-free website access for individuals with disabilities, has appointed Todd Bankofier to the new position of Chief Revenue Officer (CRO). Bankofier ceases to serve as the company's Chief Executive Officer (CEO), effectively immediately. Executive Chairman Carr Bettis has assumed operating responsibilities and will continue to do so until a new CEO has been appointed.
With support from the Board of Directors and other members of the management team, AudioEye has initiated a search for a new CEO to execute on the company's long-term plan to drive growth at scale.
"On behalf of the entire AudioEye team, I want to extend our appreciation to Todd for his guidance in helping drive our fast-growing business to the position of strength we occupy today," said Executive Chairman Carr Bettis. "Under his leadership as CEO, AudioEye reported 14 consecutive quarters of revenue increases, expanded our footprint to well over 3,000 customers and entered into entirely new markets for digital accessibility. Todd's track record makes him the ideal leader to drive our enterprise sales efforts forward as our new CRO."
Bettis continued: "AudioEye has a tangible opportunity ahead for explosive growth across a number of industries and technology formats, and we believe we are well positioned to deliver. Beginning first with our recent CFO appointment, and as the next step in our long-term succession plan, the board has initiated a search process for a CEO with proven product and leadership experience in organizations with scale or rapidly growing in scale like ours. In the meantime, and with Todd's assistance, I look forward to taking an increased operational role within the company to ensure total continuity until we appoint a new CEO."
As CRO, Bankofier will be leading AudioEye's Direct Channel and will be responsible for driving growth through new customer acquisition (NCA) in the enterprise segment of the market.
"AudioEye is in its best position to date, but I'm most excited about where we're going next," said Bankofier. "We have a tremendous opportunity ahead of us, and I look forward to being a part of that journey and leading our enterprise sales team to even greater heights as we work to bring AudioEye everywhere."
About AudioEye, Inc.
AudioEye is a technology company serving businesses committed to providing equal access to their digital content. Through patented technology, subject matter expertise and proprietary processes, AudioEye is transforming how the world experiences digital content. Leading with technology, AudioEye identifies and resolves issues of accessibility and enhances the user experience, making digital content more accessible and more usable for more people.
AudioEye's common stock trades on the Nasdaq Capital Market under the symbol "AEYE." The Company maintains offices in Tucson, Scottsdale, Atlanta, New York and Washington D.C. For more information about AudioEye and its online accessibility solutions, please visit www.audioeye.com.
Any statements in this press release about AudioEye's expectations, beliefs, plans, objectives, prospects, financial condition, assumptions or future events or performance are not historical facts and are "forward-looking statements" as that term is defined under the federal securities laws. Forward-looking statements are often, but not always, made through the use of words or phrases such as "believe", "anticipate", "should", "intend", "plan", "will", "expects", "estimates", "projects", "positioned", "strategy", "outlook" and similar words. You should read the statements that contain these types of words carefully. Such forward-looking statements contained herein include, but are not limited to, statements regarding future opportunities, growth and enterprise sales team achievement. These statements are subject to a number of risks, uncertainties and other factors that could cause actual results to differ materially from what is expressed or implied in such forward-looking statements, including the variability of AudioEye's revenue and financial performance; risks associated with product development and technological changes; the acceptance of AudioEye's products in the marketplace by existing and potential future customers; competition; and general economic conditions. These and other risks are described more fully in AudioEye's filings with the Securities and Exchange Commission (the "SEC"), including AudioEye's Annual Report on Form 10-K for the year ended December 31, 2018 filed with the SEC on March 27, 2019. There may be events in the future that AudioEye is not able to predict accurately or over which AudioEye has no control. Forward-looking statements reflect management's view as of the date of this press release, and AudioEye urges you not to place undue reliance on these forward-looking statements. AudioEye does not undertake any obligation to update such forward-looking statements to reflect events or uncertainties after the date hereof.
Dr. Carr Bettis, Executive Chairman
Matt Glover or Tom Colton
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