Feeling the weight of slumping revenues and a sagging share price, JMAR Technologies Inc. in April hired board member Dr. C. Neil Beer as chief executive officer in an attempt to right the ailing laser technology company.
The 71-year-old Beer has a formidable resume, with jobs ranging from Air Force major general to executive of numerous technology companies. He has been a board member of JMAR since 1988, and during his time at other companies, Beer developed a reputation for turnarounds.
"The turnarounds that I've been a part of always seem to come down to people rather than technology, and I enjoy managing people, leading people," he said.
In a letter to shareholders, Beer identified his first priority for the company: increasing shareholder value. Beer said he is actively pushing the company's reputation as a consistent developer of high-value products, while developing its ability to convert those developments into sales and, ultimately, increased revenues.