Cerence Inc. appoints Marion Harris as independent director, enhancing its expertise in automotive and financial services.
Quiver AI Summary
Cerence Inc. announced the appointment of Marion Harris, a seasoned executive with over 25 years at Ford Motor Company, as an independent, non-executive director effective April 1, 2025. Harris previously served as Chairman and CEO of Ford Motor Credit Company, where he spearheaded a digital transformation that improved consumer satisfaction, earning accolades such as Auto Finance Executive of the Year. His extensive background includes leadership roles in automotive, finance, and technology, making him a valuable addition to Cerence's Board of Directors. Both the Chairperson Kristi Ann Matus and CEO Brian Krzanich expressed their enthusiasm for Harris joining the team, emphasizing his potential to contribute to Cerence's mission of enhancing AI-powered user experiences in the automotive industry.
Potential Positives
- Appointment of Marion Harris, a seasoned Ford Motor Company executive, as an independent director enhances Cerence AI's leadership with deep automotive and financial industry expertise.
- Harris's experience in leading digital transformation initiatives and achieving high consumer satisfaction positions Cerence AI to strengthen its strategic direction in the automotive sector.
- The integration of Harris's insights and experience is poised to support Cerence AI's mission of advancing AI-powered, conversational experiences, ensuring competitive innovation in mobility.
Potential Negatives
- The press release does not provide information about the company's current financial performance or recent challenges, which might raise concerns about transparency and the context for the new board appointment.
- Having a new independent, non-executive director may imply a need for fresh leadership perspectives, suggesting that previous strategies may not have been fully effective.
- The focus on the new director's achievements at Ford, while notable, may overshadow any challenges or competitive pressures Cerence AI is currently facing in the rapidly evolving AI and mobility sectors.
FAQ
Who is Marion Harris and what is his background?
Marion Harris is a former Ford executive with over 25 years of experience in automotive roles, including CEO of Ford Motor Credit Company.
What position has Marion Harris been appointed to at Cerence AI?
Marion Harris has been appointed as an independent, non-executive director effective April 1, 2025.
Why is Marion Harris's appointment significant for Cerence AI?
His extensive automotive and financial expertise will provide strategic insight as Cerence AI develops its in-car experiences and innovations.
What are Cerence AI’s main areas of focus?
Cerence AI focuses on creating AI-powered user experiences in automotive and transportation, leveraging technology for safer and more connected journeys.
How can I learn more about Cerence AI?
To learn more about Cerence AI, visit their official website at www.cerence.ai or follow them on LinkedIn.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$CRNC Insider Trading Activity
$CRNC insiders have traded $CRNC stock on the open market 16 times in the past 6 months. Of those trades, 0 have been purchases and 16 have been sales.
Here’s a breakdown of recent trading of $CRNC stock by insiders over the last 6 months:
- JENNIFER SALINAS (EVP Chief Admin Officer) has made 0 purchases and 4 sales selling 57,483 shares for an estimated $321,947.
- THOMAS L BEAUDOIN has made 0 purchases and 7 sales selling 48,491 shares for an estimated $286,409.
- NILS SCHANZ (EVP Product & Technology) has made 0 purchases and 2 sales selling 32,259 shares for an estimated $104,716.
- CHRISTIAN MENTZ (EVP, Chief Revenue Officer) sold 3,600 shares for an estimated $53,028
- KATHERINE ROMAN (VP Corporate Controller) has made 0 purchases and 2 sales selling 2,860 shares for an estimated $11,008.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$CRNC Hedge Fund Activity
We have seen 80 institutional investors add shares of $CRNC stock to their portfolio, and 115 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- FIRST TRUST ADVISORS LP removed 2,679,604 shares (-100.0%) from their portfolio in Q3 2024, for an estimated $8,440,752
- CANADA LIFE ASSURANCE CO removed 1,118,646 shares (-100.0%) from their portfolio in Q3 2024, for an estimated $3,523,734
- JACOBS LEVY EQUITY MANAGEMENT, INC removed 823,428 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $6,463,909
- D. E. SHAW & CO., INC. added 814,896 shares (+77.7%) to their portfolio in Q4 2024, for an estimated $6,396,933
- MEROS INVESTMENT MANAGEMENT, LP removed 512,054 shares (-100.0%) from their portfolio in Q3 2024, for an estimated $1,612,970
- PARADIGM CAPITAL MANAGEMENT INC/NY removed 491,619 shares (-21.9%) from their portfolio in Q3 2024, for an estimated $1,548,599
- AMERICAN CAPITAL MANAGEMENT INC removed 430,936 shares (-11.0%) from their portfolio in Q4 2024, for an estimated $3,382,847
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
BURLINGTON, Mass., March 20, 2025 (GLOBE NEWSWIRE) -- Cerence Inc. (NASDAQ: CRNC) (“Cerence AI”), a global leader pioneering conversational AI-powered user experiences, today announced that Marion Harris, a long-time Ford Motor Company executive, has been appointed to serve as an independent, non-executive director, effective April 1, 2025.
In his more than 25-year career at Ford, Mr. Harris held varying automotive and financial services executive roles. He most recently served as Chairman and CEO of Ford Motor Credit Company, the automaker’s captive finance lending arm, where he led a digital transformation program that resulted in the highest consumer satisfaction in the industry. In this role, Mr. Harris was named Auto Finance Executive of the Year by Auto Finance News. Previously, Mr. Harris served as Vice President of Ford Mobility, with operational responsibility for Ford’s startup digital and mobility businesses. He brings deep financial, capital markets, risk management, business development, and technology transformation experience, reflecting his many progressive leadership roles in automotive, captive finance, and banking.
“Marion is a proven global executive who brings deep automotive expertise and strong financial acumen to his role on the Cerence AI Board of Directors,” said Kristi Ann Matus, Chairperson of the Board of Directors, Cerence AI. “I, the Cerence AI Board, and the company’s leadership team are thrilled to welcome Marion to the Board; his long tenure at Ford and extensive leadership experience will enable crucial strategic insight as Cerence AI shapes the future of the in-car experience.”
Mr. Harris currently serves on the advisory boards of Harbinger Motors and Mobility Impact Partners. He holds a B.S. and M.A. in mathematics from Mississippi State University.
“On behalf of the Cerence AI leadership team, we are delighted to welcome Marion to our Board of Directors,” said Brian Krzanich, CEO, Cerence AI. “Marion’s extensive experience will bring invaluable insights as we continue to innovate and lead in automotive as well as expand into the broader mobility market with our industry-leading AI solutions.”
“I am honored to join Cerence AI’s Board of Directors at this exciting time in the company’s journey,” said Marion Harris. “With my deep history in the automotive industry and passion for the customer experience, I look forward to partnering with the leadership team and Board to support Cerence AI in advancing its mission of delivering AI powered, conversational agent experiences that enable people to focus on what matters most.”
To learn more about Cerence AI, visit www.cerence.ai , and follow the company on LinkedIn .
About Cerence Inc.
Cerence Inc. (NASDAQ: CRNC) is a global industry leader in creating intuitive, seamless, AI-powered experiences across automotive and transportation. Leveraging decades of innovation and expertise in voice, generative AI, and large language models, Cerence powers integrated experiences that create safer, more connected, and more enjoyable journeys for drivers and passengers alike. With more than 500 million cars shipped with Cerence technology, the company partners with leading automakers, transportation OEMs, and technology companies to advance the next generation of user experiences. Cerence is headquartered in Burlington, Massachusetts, with operations globally and a worldwide team dedicated to pushing the boundaries of AI innovation. For more information, visit
www.cerence.ai
.
Contact Information
Kate Hickman
| Tel: 339-215-4583 | Email:
[email protected]
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/0a4f90b3-d415-49a4-90a7-32a3daa7aefe
