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Duos founder and CEO Gianni Arcaini retires after 30 years

Arcaini, 71, will continue to serve as chairman of the board

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Arcaini leaves Duos 30 years afyer founding the Jacksonville-based company in 1990

Duos Technologies Group Inc (NASDAQ:DUOT) has announced the retirement of founder Gianni Arcaini as its president and CEO, effective September 1, although the 71-year old will continue to serve as chairman of the company's board.

Arcaini leaves Duos 30 years after founding the company in 1990. The group said its board has initiated the search for a new CEO and president to replace Arcaini and lead the company through its next phase of growth. 

"On behalf of the entire Duos team, I want to thank Gianni for his many years of service to our organization," Duos director Adrian Goldfarb said in a statement. "We are well-positioned to build on our long-term growth trajectory and will continue to benefit from his guidance and insight as chairman for the foreseeable future."

READ: Duos Technologies awarded contract for AI integration by class one railroad customer

"I had the distinct privilege to build and lead an extraordinarily talented team whose ingenuity and dedication has placed our company's disruptive technologies at the top of its class," Arcaini said. "Our uplisting to Nasdaq in February of this year was a significant milestone achievement very few companies are able to attain, and I'm proud to be leaving the day-to-day operations of the company in a position of such strength. 

"We are well-capitalized, and our core technologies have achieved market adoption, both of which have Duos poised for growth and success in the future. I thank our team members, customers, partners, and most importantly our shareholders for the support and for all they have contributed to make Duos a success."

Duos, based in Jacksonville, Florida, provides advanced, analytical technology solutions with its core competencies focusing on intelligent technologies that combine machine learning, AI and advanced video analytics that are delivered through its proprietary integrated enterprise command and control platform.

Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com

Follow him on Twitter @andrew_kessel

Quick facts: Duos Technologies Group, Inc.

Price: 3.67 USD

NASDAQ:DUOT
Market: NASDAQ
Market Cap: $12.97 m
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