Spagnola is new Iverify CEO

Mike May starts new venture
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Thursday, May 19, 2011

CHARLOTTE, N.C.—Mike May, Iverify president and CEO, on May 10 announced he would be taking on a new role of strategic advisor with the company, while interim CFO Mark Spagnolo will take over May's previous functions.

Asked what his relationship with the video monitoring company going forward would be, May said there would be definite changes and hinted at a new venture

"[This is a] very significant change … Iverify will remain an important relationship for me but not my primary focus," May told Security Systems News. "I am actively creating a next generation security concept."

May said he will remain focused on Iverify's client relations and major sales opportunities, and apply his security expertise towards product development as the company researches new technology, according to the release. May will maintain his equity interest in Iverify and will also serve on the company’s Board of Directors.

Asked to expound on his next generation security concept, May said,

"The security industry is evolving from some of the older business models—guards, burglar alarms, etc.—to a knowledge-based model where the security providers leverage technology and information systems to drive improved security performance and results at much lower costs. I believe that there are very large expenditures being made today on services that are largely ineffective and that fail to deliver compelling customer return on investment. To that end I am working with a team of people from the security industry and academia that have a cross section of disciplines to create what we believe is the next generation of a security model. These services will harness a variety of intelligent technologies and marry them to robust reporting delivery systems. The services will dramatically reduce security problems that are not effectively being solved today with the old-line services the industry utilizes."

May also said he expected he and his development team to purchase a security company to revamp into his new model some time in the near future.