NexTech AR Names SAP Tech Leader Eugen Winschel as Chief Operating Officer - Seite 2

Evan Gappelberg, CEO of NexTech AR comments, “The NexTech board is thrilled to have Eugen join the company, and I am beyond excited to have him join the NexTech family at this pivotal time of our rapid growth stage. Bringing on an experienced and innovative technology executive is critical to our future growth. In addition to his 18 years of worldwide experience at SAP, he comes with an unique combination of business and technical savvy and a great understanding for financial success. He consistently exceeds expectations in all areas and I'm confident that he will add tremendous value to the team from day one.”

During his 18 year career at SAP Mr Winschel’s leadership responsibilities included:

• Global Vice President, Product Management for User Experience – Intelligent Enterprise Group
• Global Vice President, Head of Product Management for Enterprise Artificial Intelligence
• Global Vice President, Head of Digital Business Engineering
• Global Chief Operating Officer (COO) Worldwide Marketing and Communications Regions
• Regional Chief Operating Officer (COO) Middle and Eastern Europe Region, SAP Marketing
• Executive Director Office of the Chief Marketing Officer
• Director Solution Management
• Head of Business Innovation & Operations Industry Solutions
• Program Manager Business Innovation Industry Solutions

Pursuant to his appointment, Mr. Winschel will be granted 500,000 stock options with an exercise price of $5.88 for a period of three years. The Company also granted 50,000 incentive stock options to a consultant priced at $5.88 for a period of three years.

About NexTech AR
NexTech is one of the leaders in the rapidly growing Augmented Reality market estimated to grow from USD $10.7B in 2019 and projected to reach USD $72.7B by 2024 according to Markets & Markets Research; it is expected to grow at a CAGR of 46.6% from 2019 to 2024.

The company is pursuing four verticals:

InfernoAR: An advanced Augmented Reality and Video Learning Experience Platform for Events, is a SaaS video platform that integrates Interactive Video, Artificial Intelligence and Augmented Reality in one secure platform to allow enterprises the ability to create the world’s most engaging virtual event management and learning experiences. Automated closed captions and translations to over 64 languages. According to Grandview Research the global virtual events market in 2020 is $90B and expected to reach more than $400B by 2027, growing at a 23% CAGR. With NexTech’s InfernoAR platform having augmented reality, AI, end-to-end encryption and built in language translation for 64 languages, the company is well positioned to rapidly take market share as the growth accelerates globally.