Neonode Announces Departure Of Chief Executive Officer Urban Forssell, Effective Immediately; CFO Fredrik Nihlén, Has Been Appointed Interim CEO Until A New CEO Is Appointed
Portfolio Pulse from Benzinga Newsdesk
Neonode Inc. announced the immediate departure of CEO Urban Forssell. CFO Fredrik Nihlén will serve as interim CEO. Forssell will be a strategic advisor until end of 2024. This follows Neonode's strategy shift to focus on licensing business and phase out its Touch Sensor Module product business.
April 10, 2024 | 1:24 pm
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Neonode's CEO Urban Forssell departs immediately, with CFO Fredrik Nihlén as interim CEO. The company focuses on licensing business, moving away from Touch Sensor Module product business.
CEO departures can lead to short-term uncertainty in the market, potentially affecting stock prices. However, the appointment of an interim CEO and the strategic advisory role of Forssell may mitigate negative impacts. The company's strategic shift towards licensing business is already known, so the change in leadership might be seen as a step towards further implementation of this strategy.
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