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Cellucci previously was chief commercialization officer at the U.S. Department of Homeland Security and the White House in both the Bush and Obama administrations. He also leads Cellucci Associates, a marketing firm focused on developing business and marketing plans for high-tech firms worldwide.
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Cellucci replaces eCrypt’s co-founder Brad Lever, who will remain with the company as chief financial officer and take on the newly created position of chief operations officer.
Cellucci, who joined eCrypt’s board of directors earlier this year, is a serial entrepreneur with corporate, venture capital and private-equity experience. He serves on a number of boards, is the author of more than 24 books and more than 192 scholarly articles.
Cellucci’s annual salary is yet to be determined, but he will be granted up to 18.9 million shares of common stock, according to documents filed with the Securities and Exchange Commission. The stock is equivalent to a 15 percent equity stake in the company, according to a company spokesman.
Board chairman Curt Weldon said as eCrypt continues to execute on its core objectives, the recruitment of industry and capital-market specialists to the executive team is essential to refine its direction and processes.
ECrypt (OTCQB: ECRY) specializes in information-security solutions for businesses, government and the military.