Immersion Announces Appointment of Tom Lacey as Interim Chief Executive Officer and Board Member
August 22 2018 - 4:05PM
Business Wire
Lead Independent Director Sharon Holt Named
Chairman of the Board
Immersion Corp. (Nasdaq: IMMR), the leading developer and
licensor of touch feedback technology, today announced that Tom
Lacey will become the company’s Interim Chief Executive Officer and
the newest addition to the Immersion Board of Directors, effective
immediately. Lacey succeeds Carl Schlachte, the company’s prior
Interim CEO, who is resigning as a director of Immersion.
Lead independent director Sharon Holt has been named Chairman of
the Immersion Board.
“We are delighted to have Tom Lacey join us as Interim CEO and a
member of the Immersion board,” said Ms. Holt. “Tom is a world
class executive who brings a wealth of experience and talent during
this important time for Immersion. We are confident that Tom’s
leadership and industry expertise will serve Immersion well during
his time as Interim CEO as well as during his ongoing service on
our Board of Directors. The board looks forward to expeditiously
completing the process of hiring a permanent CEO.”
Tom Lacey, the Interim Chief Executive Officer and new Immersion
board member, said, “I have gotten to know Immersion well, and I am
thrilled to join as both Interim CEO and as a member of the board.
I am looking forward to working with the employees, management,
customers and board of Immersion to help capitalize on the
opportunities ahead.”
With 30 years of experience in the industry, Lacey has a proven
track record of successfully leading a diverse group of technology
companies.
From May 2013 to June 2017, Lacey served as Chief Executive
Officer and a director of Xperi Corporation (formerly Tessera;
Nasdaq: XPER), a technology licensor in mobile computing and
communications, memory and data storage, and 3-D integrated circuit
technologies. He also currently serves as a director of DSP Group
(Nasdaq: DSPG). Prior to these roles, he held a number of senior
leadership positions at Components Direct, Phoenix Technologies
Ltd., Applied Materials, Inc., Flextronics International, and
International Display Works. Prior to that, Lacey held various
management and executive positions at Intel Corporation for 13
years, including Vice President Sales and Marketing, President of
Intel Americas, and Vice President and General Manager, Flash
Products.
About Immersion
Immersion Corporation (NASDAQ: IMMR) is the leading
innovator of touch feedback technology, also known as haptics. The
company provides technology solutions for creating immersive and
realistic experiences that enhance digital interactions by engaging
users’ sense of touch. With more than 3,000 issued or pending
patents, Immersion's technology has been adopted in more than 3
billion digital devices, and provides haptics in mobile,
automotive, gaming, medical and consumer electronics products.
Immersion is headquartered in San Jose, California with
offices worldwide. Learn more at www.immersion.com.
Forward Looking Statements
This press release contains "forward-looking statements" that
involve risks and uncertainties, as well as assumptions that, if
they never materialize or prove incorrect, could cause the results
of Immersion Corporation and its consolidated
subsidiaries to differ materially from those expressed or implied
by such forward-looking statements. All statements, other than the
statements of historical fact, are statements that may be deemed
forward-looking statements, including, but not limited to,
statements regarding the company’s leadership transition, the
benefits of Immersion's technology and its business strategy.
Immersion's actual results might differ materially from those
stated or implied by such forward-looking statements due to risks
and uncertainties associated with Immersion's business, which
include, but are not limited to: potential delay in the hiring of a
chief executive officer; unanticipated difficulties and challenges
encountered in product development efforts by Immersion and its
licensees; adverse outcomes in any future intellectual
property-related litigation and the costs related thereto; the
effects of the current macroeconomic climate; delay in or failure
to achieve adoption of or commercial demand for Immersion's
products or third party products incorporating Immersion's
technologies; and a delay in or failure to achieve the acceptance
of touch feedback as a critical user experience. Many of these
risks and uncertainties are beyond the control of Immersion.
For a more detailed discussion of these factors, and other
factors that could cause actual results to vary materially,
interested parties should review the risk factors listed in
Immersion's most current Form 10-K, and Form 10-Q, both of which
are on file with the U.S. Securities and Exchange Commission.
The forward-looking statements in this press release reflect
Immersion's beliefs and predictions as of the date of this release.
Immersion disclaims any obligation to update these forward-looking
statements as a result of financial, business, or any other
developments occurring after the date of this release.
Immersion and the Immersion logo are trademarks
of Immersion Corporation in the United
States and other countries. All other trademarks are the
property of their respective owners.
(IMMR - C)
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