ActivCardÃ¢â‚¬â„¢s CEO is out due to Ã¢â‚¬Ëœdifference of opinionÃ¢â‚¬â„¢
FREMONT, Calif. - Four months after coming onboard to lead ActivCard, chief executive officer George Garrick has already left the company.
In a press release in early February, company officials at ActivCard said Garrick left due to a Ã¢â‚¬Å“difference of opinion with the board of directors on the companyÃ¢â‚¬â„¢s strategic direction.Ã¢â‚¬Â A search for a successor has begun.
The news came as a surprise to analyst Brian Ruttenbur with Morgan Keegan. In a report, Ruttenbur expected Garrick would outline and implement some new objectives for the company, which manufactures identity authentication solutions for identification cards, remote access and single sign-on applications.
Coinciding with the news of GarrickÃ¢â‚¬â„¢s resignation, Morgan Keegan also said it anticipates a poor fourth quarter for ActivCard. The companyÃ¢â‚¬â„¢s revenue is expected to only hit $6.5 million instead of an earlier forecast of $9.2 million, a significant decrease for the business.