Fingerprint Cards‘ Nomination Committee is reversing a plan to increase pay for the company’s Board of Directors and committee members.
The Nomination Committee had previously proposed increasing director fees from a total of SEK 4,050,000 to SEK 4,450,000. Since that initial proposal was made, FPC’s leadership has communicated concerns about market challenges anticipated for the first half of this year, which are expected to reduce revenues from mobile integrations of the company’s fingerprint sensor technology.
In a statement announcing the director fee reversal, Nomination Committee Chairman Dimitrij Titov said, “Against the background of this new information, we have now, in consultation with the Board, concluded that increasing the director fees is not reasonable.” As such, total fees will remain unchanged at SEK 4,050,000.
That doesn’t mean they’ll stay fixed in place forever, of course. In a recent company report, FPC suggested that it expects to achieve 95 percent penetration of its addressable mobile market by 2020, offering cause for optimism to the company’s stakeholders.
April 7, 2017 – by Alex Perala