Identiv Appoints Justin Scarpulla as Chief Financial Officer

Rhea-AI Summary

Identiv, Inc. (NASDAQ: INVE) has appointed Justin Scarpulla as Chief Financial Officer, effective December 6, 2021. Scarpulla, with over 25 years of financial leadership experience, previously worked at SpaceX, where he oversaw financial planning and operations. He has also held significant roles at Incipio and Vizio, driving substantial revenue growth. CEO Steven Humphreys expressed confidence in Scarpulla's ability to enhance financial systems and support Identiv's growth strategy. Interim CFO Ed Kirnbauer will continue as Global Corporate Controller.

Positive

• Justin Scarpulla brings extensive experience in financial leadership from companies like SpaceX, Incipio, and Vizio.
• Scarpulla's track record includes managing financial systems for rapid growth, crucial for Identiv's ambitions.
• His appointment is expected to strengthen financial discipline and operational efficiency, enhancing shareholder value.

Negative

• None.

FREMONT, Calif., Dec. 2, 2021 /PRNewswire/ -- Identiv, Inc. (NASDAQ: INVE), a global leader in digital security and identification in the Internet of Things (IoT), today announced Justin Scarpulla will be appointed as Chief Financial Officer effective December 6, 2021.

Strategic SpaceX and Semiconductor Industry Financial Leader Joins Identiv to Lead Company Growth

Mr. Scarpulla brings more than 25 years of financial leadership experience to Identiv. He joins Identiv from SpaceX, which designs, manufactures, and launches advanced rockets and spacecraft, as well as operating the Starlink internet constellation, deploying thousands of advanced communications satellites. While at SpaceX, Mr. Scarpulla led initiatives across financial planning and analysis, accounting, and operations, developing and managing financial systems to optimize resources across diverse, high-growth, cash-intensive activities. He managed business leadership engagement across the company, reporting to SpaceX CFO Bret Johnsen.

Prior to SpaceX, Mr. Scarpulla was Vice President of Finance and Accounting at Incipio and Vice President and Corporate Controller at Vizio. He also served as Chief Accounting Officer and Controller at MaxLinear, an NYSE-listed semiconductor company, where he built the financial team and systems to support rapid growth from $70M to $300M in revenue over four years.

"As Identiv accelerates its growth strategy, Justin's deep experience building tightly disciplined but scalable financial systems and teams, his operational rigor, and financial planning skills, in addition to a Big Four accounting background, is exactly what we believe our business needs to execute our market growth opportunity," said Steven Humphreys, Identiv CEO. "He's built world-class teams and implemented critical financial systems in dynamic public and private company environments. His excellent reputation throughout the financial community enables him to recruit and develop world-class talent. We're thrilled to add such a dynamic, trusted leader to our executive team."

Mr. Scarpulla has operated in hundred-million up to multi-billion dollar businesses. In addition to his leadership at SpaceX, at Incipio Mr. Scarpulla led a large-scale integration project, seamlessly absorbing operations from a major business acquisition. At Vizio, he supported company growth to $3 billion in annual revenue. Mr. Scarpulla served on the executive team at MaxLinear, developing long-term strategy and operational growth plans to support company growth and global expansion. At Broadcom Corporation, he was responsible for P&L oversight of the company's entire cable modem business and held increasingly responsible roles across a dozen-year career. Mr. Scarpulla holds his B.A. in Accounting and Finance from California State University Fullerton.

"With its ambitious vision and growth path, now is the perfect time to join Identiv," said Mr. Scarpulla. "It is clear the company has a major opportunity to build on its unique RFID and IoT market position to lead in a category that we believe will become pervasive in our world over the next several years. I have been fortunate to work for companies like MaxLinear, Broadcom, and SpaceX through similar growth trajectories. It is exciting to have that opportunity in an even larger emerging market. I look forward to accelerating an already strong leadership team to support growth while driving financial rigor and creating shareholder value."

Interim CFO Ed Kirnbauer will remain at Identiv as Global Corporate Controller and a key leader within Mr. Scarpulla's financial team.

Note Regarding Forward-Looking Information
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are those involving future events and future results that are based on current expectations as well as the current beliefs and assumptions of the Company's management and can be identified by words such as "looking forward", "believes", "will", and similar references to the future. Any statement that is not a historical fact, including statements regarding the Company's business needs to execute its market growth opportunity and the Company's market position and opportunity, is a forward-looking statement. Forward-looking statements are only predictions and are subject to several risks and uncertainties, many of which are outside our control, which could cause actual results to differ materially and adversely from those expressed in any forward-looking statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to, the Company's ability to continue the momentum in its business, its ability to successfully execute its business strategy, its ability to capitalize on trends in its business, industry trends, and factors discussed in our public reports, including our Annual Report on Form 10-K for the year ended December 31, 2020 and subsequent reports filed with the U.S. Securities and Exchange Commission. All forward-looking statements are based on information available to us on the date hereof, and we assume no obligation to update such statements.

About Identiv
Identiv, Inc. is a global leader in digitally securing the physical world. Identiv's platform encompasses RFID and NFC, cybersecurity, and the full spectrum of physical access, video, and audio security. Identiv is a publicly traded company, and its common stock is listed on the NASDAQ Stock Market LLC in the U.S. under the symbol "INVE." For more information, visit identiv.com.

Investor Relations Contact:
Matt Glover and Sophie Pearson
Gateway Investor Relations
+1 949.574.3860
IR@identiv.com

Identiv Media Contact:
press@identiv.com

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SOURCE Identiv

FAQ

Who is the new CFO of Identiv?

Justin Scarpulla is appointed as the new Chief Financial Officer of Identiv, effective December 6, 2021.

What experience does Justin Scarpulla have?

Justin Scarpulla has over 25 years of financial leadership experience, including roles at SpaceX, Incipio, and Vizio.

How will Scarpulla's appointment impact Identiv?

His experience in financial systems and management is expected to enhance Identiv's growth strategy and operational efficiency.

What is the background of Justin Scarpulla?

Scarpulla has a B.A. in Accounting and Finance and has managed financial initiatives in high-growth environments.