Management team and tech team are worthy every cent than anything else for a tech company.
I am very happy with the way they structured new CEO's remuneration pack.
If new CEO can achieve what requirements set, I think all shareholders will be more than happy to pay him more.
" i) to start to commercialize the technology by signing up 3-4 key, large customers,
ii) grow revenue to $20M within 18 months, and
iii) prepare the company for an eventual IPO"
BrainChip, game changing start-up in "neural computing sector" disrupting semiconductor industry
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Job description
I. Overall Summary Our search is for a CEO for BrainChip Holdings Ltd (“BrainChip”, www.brainchipinc.com ), an innovative, game changing start-up company in the "neural computing sector" which will disrupt the broader semiconductor industry. BrainChip is not a 'chip' company, but an enabling IP provider. The SNAP IP (Spiking Neural Adaptive Processor) is a dynamic (autonomous learning) spiking neural network that has solid foundations in the method that the brain is using to learn and recognize objects. BrainChip is based in Orange County, California, and has been around for over ten years, when it was launched in Australia, where the parent company is a publicly traded company with an estimated market cap of $140M.
The new CEO will expand on the work of the current Interim CEO, who is the CTO & Co-Founder, Peter van der Made, who will remain on the executive management team as CTO. The mandate for the new CEO will be threefold: i) to start to commercialize the technology by signing up 3-4 key, large customers, ii) grow revenue to $20M within 18 months, and iii) prepare the company for an eventual IPO. The CEO is expected to accomplish this through successful marketing and sales commercialization of the existing BrainChip technology (i.e., via IP licensing), all the while continuing to build innovative emerging technology, and commercializing the existing and new pipeline of customer and partner deals. The role will be based in Orange County, CA. The CEO will travel extensively, especially to visit with customers in the AI and semiconductor industry across the US and potentially in Asia.
Reporting to the Board of Directors of parent company, BrainChip Holdings Ltd., the CEO will create value leading up to the IPO [NASDAQ] by providing the vision, leadership, strategy and general management skills necessary to grow BrainChip into a dominant player in the AI neural computing sector, which will significantly disrupt the broader semiconductor industry. This will include development and implementation of a strategic plan to advance the company's vision, mission, strategies and objectives and to promote revenue, profitability and growth as an organization. The CEO will build and work with a top tier management team dedicated to developing, manufacturing and selling world-class products and services; act as the key face of the company; develop new customers and channels to market and manage existing customer and channel partner relationships; develop strategic partnerships and ensure that overall revenue and profit goals are achieved to maximize the company's eventual IPO value. In addition, the CEO will develop an open and communicative relationship with both the Board, providing informal and formal updates on company strategy, performance, management direction and decisions, and will lead the investor relations function by representing the company to analysts, brokers, funds, and future shareholders, etc., as required.
This person will likely have deep semiconductor experience and rolodex network; previous CEO/President P&L responsibility at a publicly traded company; experience with licensing of innovative technologies; IPO/M&A experience; proven marketing, sales, and business development success; as well as SEC/public company experience. Ideally, but not a deal-breaker, this person would understand “neural computing” technology and the related commercial sector and competitive landscape, or is able to learn it quickly.
Compensation will include a very competitive base and bonus package and an equity component that can lead to significant wealth creation upon the exit or IPO of the company.
If interested, please send me a short email explaining why you are a good fit for this opportunity with your resume attached ( [email protected]). We will respond within 2 weeks of your separately written “email” application.
II. General Responsibilities
Development, review and refinement of the company's business strategy, product development pipeline, operating plans, and execution of the strategy to obtain a leading position in the marketplace
Lead the development of the commercial strategy for the company and ensure revenue growth is achieved in a responsible and profitable manner
Build a world-class executive management team, where needed, and establish the culture and values of the company.
Working with the management team to satisfy customer and partner needs, develop and nurture new and existing customers, partnerships, strategic alliances, and other market opportunities
Work closely with research and development teams to ensure continued advancement of technology for maximum global market penetration within the semiconductor and other verticals
Be the chief steward of the company, ensuring the company is well positioned leading up to its IPO and post-IPO position in the public marketplace., and building relationships and credibility with outside investors to provide necessary resources to fund and grow the company
Be the primary spokesperson for the company regarding its value proposition, strategy, development and operating plans to external stakeholders, such as the press, the financial community, and eventually, the public markets.
Provide high-level strategic and tactical leadership to the Board and to the management team
Motivate a high performance, innovative and results-driven organization
Work with the Board to ensure access to capital on a timely and cost effective basis
Direct and oversee the day-to-day activities of the business focusing on the execution of strategy.
Develop performance measurements and ensure these metrics are achieved
BRN Price at posting:
22.0¢ Sentiment: Buy Disclosure: Held
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