Digimarc Corporation (Nasdaq: DMRC) has recently appointed Sheila Cheston, former General Counsel at Northrop Grumman, and Dana McIlwain, former Chief Administrative Officer and Global Operations Leader at PricewaterhouseCoopers (PwC), to its board of directors, effective October 1, 2024. Their appointments come at a significant time as the company accelerates its global growth.
Sheila Cheston, who has over 30 years of experience in crafting global strategies and leading major corporate transactions for multinational corporations and the federal government, will serve on the audit, governance, nominating, and sustainability, and compensation and talent management committees. Dana McIlwain, with over 35 years at PwC across various leadership roles, will join the audit and governance, nominating, and sustainability committees.
The new appointments follow the resignation of Milena Alberti-Perez, who has served on the Digimarc board since 2022.
Cheston's distinguished career included roles as Executive Vice President of BAE Systems, Inc., and various senior positions in the U.S. government, including General Counsel of the U.S. Air Force and Special Associate Counsel to the President. McIlwain, on the other hand, recently retired from PwC after 35 years, during which he led the company’s U.S. advisory practice to triple revenue growth and served as PwC’s Vice Chairman and U.S. Services Leader.
Riley McCormack, President and CEO of Digimarc, expressed that the new additions to the board of directors further strengthen the company's ability to scale and meet the growing demand for its groundbreaking solutions.
Katie Kool, Chair of Digimarc’s board of directors, commented that the expertise of Cheston and McIlwain in leading global transformations aligns perfectly with the company's mission to address pressing global challenges.
Digimarc's digital watermarking technology has gained recognition across both public and private sectors, and the company is focused on maximizing the current market opportunities with the addition of Cheston and McIlwain to its board.
The company expressed its gratitude to Milena Alberti-Perez for her leadership and incredible contribution to the Digimarc board over the years.
Cheston stated, “I’m excited to join Digimarc’s board at this moment of transformative growth. Digital innovation is a strategic imperative, and Digimarc’s technology offers real solutions to critical challenges across industries.”
McIlwain added, “Digimarc’s leadership in digital transformation, particularly in digital watermarking technology, presents significant potential for reshaping industries. I’m eager to bring my experience in building go-to-market strategies and partnerships as well as navigating large-scale organizational and industrial change to help Digimarc expand its global presence and impact.” Following these announcements, the company's shares moved 2.5%, and are now trading at a price of $27.81. For more information, read the company's full 8-K submission here.
