MicroVision Announces Resignation of Board Member Perry M. Mulligan
May 22 2020 - 8:30AM
MicroVision, Inc. (NASDAQ: MVIS), a leader in innovative
ultra-miniature projection display and sensing technology, today
announced that on May 21, 2020 Perry M. Mulligan resigned from the
board of directors. Mulligan served as director of the
company since January 2010 and was Chief Executive Officer from
November 2017 to February 2020.
“I am very grateful to have been able to serve MicroVision as a
member of the executive team and as a long-time board member,” said
Mulligan. "As part of my transition to the board earlier this
year I was committed to demonstrating my support for our new CEO
Sumit Sharma with the board and shareholders. With a
successful transition completed, I remain confident in the
potential for the company. In light of my recent health
issues, I believe that this is the right time for me to retire from
the board and focus on my recovery and my family."
“The company and board have benefited from Perry’s dedication,
knowledge and leadership both as CEO for two years and as a board
member since 2010,” said Brian Turner, Board Chair. “While I
am sorry to see Perry resign, I am glad that he was able to
continue as a board member after stepping down as CEO earlier this
year to enable a smooth transition for Sumit. The board
members and I have enjoyed working with Perry and will miss his
insights and positive contributions. We wish him well as he
steps away to focus on health and family.”
About MicroVision
MicroVision is the creator of PicoP® scanning technology, an
ultra-miniature sensing and projection solution based on the laser
beam scanning methodology pioneered by the company. MicroVision’s
platform approach for this sensing and display solution means that
its technology can be adapted to a wide array of applications and
form factors. We combine our hardware, software, and algorithms to
unlock value for our customers by providing them a differentiated
advanced solution for a rapidly evolving, always-on world.
MicroVision has a substantial portfolio of patents relating to
laser beam scanning projection and sensing. MicroVision’s
industry leading technology is a result of its extensive research
and development. The company is based in Redmond, Washington.
MicroVision and PicoP are trademarks of MicroVision, Inc. in the
United States and other countries. All other trademarks are the
properties of their respective owners.
Forward-Looking Statements
Certain statements contained in this release, including those
relating to potential of the company, the company’s future products
and product applications and those including words like “believe”
are forward-looking statements that involve a number of risks and
uncertainties that could cause actual results to differ materially
from those in the forward-looking statements. Factors that could
cause actual results to differ materially from those projected in
our forward-looking statements include the risk that the company
may not succeed in finding strategic solutions, including a
potential sale of the company, with acceptable timing, benefits or
costs, the company may be unable to evidence compliance with Nasdaq
criteria within the period of time that was granted by the Nasdaq
panel, our ability to operate with limited cash or to raise
additional capital when needed; market acceptance of our
technologies and products; and for products incorporating our
technologies; the failure of our commercial partners to perform as
expected under our agreements, including from the impact of the
COVID-19 (coronavirus); our ability to identify parties interested
in paying any amounts or amounts we deem desirable for the purchase
or license of intellectual property assets; our or our customers’
failure to perform under open purchase orders, our financial and
technical resources relative to those of our competitors; our
ability to keep up with rapid technological change; government
regulation of our technologies; our ability to enforce our
intellectual property rights and protect our proprietary
technologies; the ability to obtain additional contract awards and
develop partnership opportunities; the timing of commercial product
launches and delays in product development; the ability to achieve
key technical milestones in key products; dependence on third
parties to develop, manufacture, sell and market our products;
potential product liability claims; our ability to maintain our
listing on the Nasdaq Stock Market, and other risk factors
identified from time to time in the company's SEC reports,
including the company's Annual Report on Form 10-K filed with the
SEC. These factors are not intended to represent a complete list of
the general or specific factors that may affect us. It should
be recognized that other factors, including general economic
factors and business strategies, may be significant, now or in the
future, and the factors set forth in this release may affect us to
a greater extent than indicated. Except as expressly required by
federal securities laws, we undertake no obligation to publicly
update or revise any forward-looking statements, whether as a
result of new information, future events, changes in circumstances
or any other reason.
Investor Relations Contact
David H. Allen Darrow Associates, Inc.
408.427.4463dallen@darrowir.com
Microvision (NASDAQ:MVIS)
Historical Stock Chart
From Aug 2024 to Sep 2024
Microvision (NASDAQ:MVIS)
Historical Stock Chart
From Sep 2023 to Sep 2024