Vicon Industries CEO Eric Fullerton Steps Down; Replacement Named

Vicon announced in a government filing that Fullerton’s departure from the company is effective immediately.

HAUPPAUGE, N.Y. – Vicon Industries CEO Eric Fullerton is resigning effective today less than two years after joining the company (NYSE: VII). Fullerton also is stepping down from his role as a director of the video surveillance company, Newsday reported.

Vicon’s board of directors disclosed in a government filing this week it has appointed John Badke as the interim CEO. Badke, who has been senior vice president, finance, since May 2004 and CFO since December 1999, will continue in both of those roles.

In September 2014, Vicon’s board of directors named Fullerton to succeed the retiring Kenneth Darby as CEO. Fullerton, who had previously served as chief sales and marketing officer of Milestone Systems, was given the task of returning the 50-year-old pioneering company to prominence in the video surveillance market, and integrating merger partner iQinVision.

Vicon and iQinVision, a privately held maker of megapixel cameras based in San Juan Capistrano, Calif., announced a merger agreement in March 2014. The all-stock deal gave iQinVision shareholders about half the combined company.

In the quarter ended March 31, Vicon reported a 22% decrease in net sales to $8 million as its net loss widened to $7.7 million from $1.8 million in the same quarter in 2015, Newsday reported. In the past 12 months, the company’s stock has declined almost 40%

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