08:59 AM EDT, 05/13/2024 (MT Newswires) -- Mitek Systems ( MITK ) said Monday it has named Scott Carter as interim chief executive, starting June 1.

Carter, current chairman of the board, will succeed Max Carnecchia, whose employment will be terminated effective May 31.

The company said Carnecchia will continue as a member of the board to assist during the transition. Mitek ( MITK ) has hired an employment firm to search for a new CEO, Mitek ( MITK ) added,

Separately, Mitek ( MITK ) said its board approved a two-year share buyback plan of up to $50 million.

Shares of the company were down 1.2% in recent Monday premarket activity.

Price: 13.21, Change: -0.16, Percent Change: -1.20