Business Wire
Mitek Systems, Inc, a global leader in digital identity verification, mobile capture and fraud management, today announced the appointment of James (“J.D.”) Fay to its board of directors. Mr. Fay will also serve as a member of the board’s audit committee. Mr. Fay, who currently serves as Chief Financial Officer at Matterport, Inc., brings over two decades of financial strategy and operational expertise to Mitek, having played a key role in scaling technology companies from early growth stages to IPO and acquisition.
“We are thrilled to welcome J.D. to our board and believe his extensive experience in financial strategy and guiding companies through growth and transformation will be critical as we continue to execute our long-term vision,” said Scott Carter, Chairman of Mitek Systems.
At Matterport, Mr. Fay has overseen the company’s financial operations since 2017, during which time the company has nearly quadrupled its revenues. He guided Matterport through its successful acquisition agreement with CoStar Group, representing a premium of over 200%, and his leadership in transitioning the company from a hardware to a recurring revenue SaaS model is expected to bring valuable insights to Mitek as the company focuses on scaling its recurring revenue streams and strengthening its market positioning. Mr. Fay has more than twenty years of experience as a globally focused senior executive, lawyer, and advisor for venture-backed and public technology companies, and he has structured and led IPOs on the NYSE and Nasdaq and managed strategic acquisitions across the U.S., Europe, and Asia.
“We would like to thank Jim for his decade of service to Mitek. His leadership and insight have been instrumental in Mitek’s evolution. We wish him all the best in the future”
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Prior to Matterport, Mr. Fay served as Chief Financial Officer at View, managing financial, legal, HR, and operations matters while the company was privately held. He also served as Chief Financial Officer and General Counsel at NeoPhotonics (NYSE: NPTN; acquired by Lumentum Holdings) and Senior Vice President and General Counsel at @Road (NASDAQ: ATRD; acquired by Trimble), taking both companies public on the NYSE and Nasdaq, respectively. Mr. Fay holds a J.D. from Harvard Law School and previously worked as an attorney at Venture Law Group, advising public and private tech companies on IPOs, M&A, and corporate matters. His experience adds extensive corporate governance and legal expertise to the Mitek board.
“Mitek is at an exciting inflection point in its growth, and I am honored to join the board at this important period,” said Mr. Fay. “I look forward to leveraging my experience to help shape the company’s future and drive strategic initiatives that create significant value for both customers and shareholders.”
Mr. Fay’s appointment follows the recent announcement of Edward H. West as Mitek’s new CEO, further solidifying the company’s commitment to building a strong leadership team that will drive its next phase of growth.
Separately, Mitek announced that James C. Hale has notified the company that he will not stand for reelection at the company’s annual meeting of stockholders to be held in 2025. “We would like to thank Jim for his decade of service to Mitek. His leadership and insight have been instrumental in Mitek’s evolution. We wish him all the best in the future,” said Mr. Carter.
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