Toronto-based Patriot One Technologies announced that one of the company’s founding members, Martin Cronin, is stepping down as CEO.
Cronin will remain CEO and a board member until a replacement can be found, according to the company, at which time he will continue to serve on the board in an advisory capacity.
“We’re extremely proud of the accomplishments Martin has achieved and pleased that he will remain on the Board as an advisor in such a critical area for our growth,” said Peter van der Gracht, Patriot One’s chairman of the board, in a statement. “Martin has been instrumental in leading Patriot One’s substantial fundraising efforts, as well as the initial sales of the PATSCAN Platform these past four years. His leadership, business focus and personal drive has positioned the Company for great success in this new fiscal year, and beyond.”
“It’s been a rewarding experience leading Patriot One on this path from concept to product launch and I’m proud to have been part of the team,” said Cronin. “The Board and I agree that it is the right time for this thoughtful succession process, and I am committed to supporting a smooth transition for the benefit of all of our stakeholders. As in every start-up in today’s economy, my departure is part of a natural evolution in corporate leadership. Now it is about sales execution and scaling. The addition of our new COO and president Dietmar Wennemer was the first step in this process which was followed up by the hiring of our new CFO, Karen Hersh. The search for a CEO with demonstrated growth-stage experience will complement and round out our new leadership group and I look forward to working with this new C-Suite team and the Board as the Company continues its mission to save lives and improve the way of life for our communities.”
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