DMRC - Digimarc's CEO retires expects Q1 retail bookings to surge 14%

Digimarc (DMRC) announced the retirement of Bruce Davis as its president & CEO and as chairman and board member, effective immediately.Riley McCormack, a current member and Lead Director of the Digimarc board, has been appointed as the company's President and CEO, effective today, and will remain as a company director. Davis's retirement from management and the board is unrelated to the company's financial reporting and business performance.Alicia Syrett, an independent director, was elected as the board's chair; lead director position was eliminated.Sheela Zemlin was elected to succeed Mr. McCormack as Chair of the Compensation Committee.Separately, for Q1 the company estimates retail bookings of $2.1M (+14% Y/Y, +58% M/M); it expects to meet or exceed the highest published Wall Street analyst estimate of $6.25M in total revenue for the quarter.Analysts consensus estimates for revenue stood at $6.05M (-2.25% Y/Y).Shares trading 0.6% higher premarket.

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Digimarc's CEO retires, expects Q1 retail bookings to surge 14%