Crane NXT appoints technology veteran Jeong Kim to board

Crane NXT Co, a provider of payment technology and security solutions to the casino industry, has announced the appointment of Jeong Kim (pictured) to its board of directors, with effect from October 29. The United States-based company said in a Wednesday announcement that Mr Kim brings decades of experience in advanced technologies, communications, engineering and international business. Mr Kim is currently executive chairman and co-founder of Kiswe Mobile Inc, a technology company specialising in interactive video streaming solutions. He previously served as president of Bell Labs, a research and development organisation. John Stroup, chairman of Crane NXT, said in prepared remarks that Mr Kim had an “exceptional record of building advanced technologies and bringing them to market”. He added: “His experience translating technical expertise into commercial success will bring valuable perspective to our board as we continue to strengthen our market leadership, expand our portfolio and create long-term value for shareholders.” Mr Kim has also served on several corporate, university and non-profit boards, including that of South Korean technology group Samsung Electronics Co Ltd. Crane NXT supplies authentication, payment and security technologies to a range of industries, including the casino gaming sector. Its portfolio includes Crane Payment Innovations (CPI), which provides payment acceptance and processing solutions, including bill validators and cash-handling systems used in gaming machines. Mr Kim said he looked forward to working with Crane NXT’s board and management as the company pursued long-term growth opportunities. Crane NXT’s second-quarter net income rose 42.2 percent year-on-year, to US$35.4 million, on net sales of US$493.2 million, up 22.0 percent from a year earlier.