Research Frontiers Inc. (Nasdaq: REFR) announced
today the retirement of Board member Gregory G. Grimes effective
August 17, 2020. Mr. Grimes has been a member of the Board since
2011, was the Chairman of its Compensation and Stock Option
Committee and was a member of the Company’s Audit and Nominating
and Corporate Governance Committees. After an extensive search, the
Board of Directors of Research Frontiers approved the appointment
of William Graham Settle as a director effective August 17, 2020.
Joseph M. Harary, President and CEO of Research
Frontiers noted: “Greg Grimes has been a shareholder of Research
Frontiers since 1999 and a valued member of our Board of Directors
since January 2011. His experience in the sales and marketing of
luxury goods, his contacts in the automotive, aircraft and
aerospace industries, and his business and management background
have benefitted Research Frontiers greatly, and all of us wish him
well in his retirement and look forward to his continued
involvement and input with Research Frontiers as a
Joe Harary joined the employees, directors and
shareholders of Research Frontiers in welcoming Mr. Settle to the
Board: “Graham Settle has been a steady presence and familiar face
at Research Frontiers since 1986 and our initial public offering.
Over the years, as an investor and also as a member of a special
team assisting me on international projects, he has gotten to know
the executives at key licensees of ours in Asia, Europe and North
America, and has a deep understanding of our SPD-SmartGlass
technology and its markets. As a fellow entrepreneur who has
founded or invested in, and successfully sold, businesses offering
innovative products and services, he has a keen sense of the
opportunities created by disruptive technologies and new markets.
His experience in international business, economics, finance and
government organizations will help Research Frontiers continue to
William Graham Settle
Graham Settle, age 62, brings to the Board 35
years of experience in both the public and private sectors.
Mr. Settle was first introduced to the Company
by its founder, Bob Saxe, in 1986 at the time of Research Frontiers
Initial Public Offering, four years after beginning his career on
Wall Street with Morgan Stanley/Dean Witter in 1982. His due
diligence and involvement over time has led him to make significant
investments including direct participation in the Company’s capital
raising transactions and purchases in the open market.
In 1994, Mr. Settle was tapped to manage
AT&T Capital's newly established small and medium enterprise
initiative in North and South Carolina. The 1996 acquisition of
AT&T Capital marked the beginning of 18 years of foreign
operations with a move to Bosnia and Herzegovina to establish the
war-torn nation's first micro-finance institution. Under his
leadership, and in partnership with bilateral and multilateral
shareholders, the fledgling firm reached profitability and went on
to rank #14 in Forbes Top 50.
Mr. Settle continued to serve in the Balkans as
Chief of Mission for World Bank Group’s private sector
International Finance Corporation (IFC) in Sarajevo and later in
Belgrade where he led the in-country liaison for World Bank Group’s
diplomatic accreditation and forensic audit of Serbia’s arrears in
the prelude to Paris Club negotiations.
After the World Bank Group assignments, Graham
Settle’s high-level roles in the Asian Development Bank (ADB)
included board membership on investee companies, focal point for
all private sector development programs for developing member
countries in the Asia and Pacific region and Regional Mission Head
of Private Sector Development for Central Asia in Almaty,
Mr. Settle was also Senior Advisor to Kazakhstan
Independent Directors Association and primary instructor for CFA
candidates in Ethics and Professional Standards. In 2012 he was a
Founder of the Intelligence By Design Eurasian Training Alliance
public-private partnership with SAP, Pearson Education and the
Government of Kazakhstan.
Through his participation on special projects
for Research Frontiers in Asia, Europe and North America, Graham
Settle developed first-hand knowledge of the Company, its
technology and the industries it serves, with personal interaction
with key SPD emulsion/film and glass licensees and customers around
the globe. His international business and government experience and
financial and strategic consulting abroad contributed a global
perspective to Research Frontiers on these projects, and continue
to provide this as a member of the Research Frontiers Board.
Graham Settle was also a founding member of
identity theft and cybersecurity firm InfoArmor in 2007. InfoArmor
was acquired by All State Insurance for $525 million in 2018.
After the loss of his wife Amy, Graham took a
year-long sabbatical homeschooling his two young children as they
traveled to 15 countries in 2017-2018. Mr. Settle also personally
sponsored a Bosnian student for university studies in the USA.
Mr. Settle is a Chartered Financial
Analyst, completed the US Marine Corps Platoon Leader Course in
Quantico, was an AAU Boxing champion,
completed the Strategic Negotiations
executive program at Harvard University and has an MBA
from East Carolina University.
Graham has 18 years of international in-country
operational experience in Asia and Pacific, Caucuses and Eurasia,
Central Asia, Middle East, Southern and Central Europe.
In addition to his accomplishments in developing
countries, Graham Settle has created companies, trained
professionals and published and lectured around the globe in
multiple disciplines. About Research Frontiers
Research Frontiers (Nasdaq: REFR) is a publicly
traded technology company and the developer of patented SPD-Smart
light-control film technology which allows users to instantly,
precisely and uniformly control the shading of glass or plastic
products, either manually or automatically. Research Frontiers has
licensed its smart glass technology to over 40 companies that
include well known chemical, material science and glass companies.
Products using Research Frontiers’ smart glass technology are being
used in tens of thousands of cars, aircraft, yachts, trains, homes,
offices, museums and other buildings. For more information, please
visit our website at www.SmartGlass.com, and on Facebook,
Twitter, LinkedIn and YouTube.
Note: From time to time Research Frontiers may
issue forward-looking statements which involve risks and
uncertainties. This press release contains forward-looking
statements. Actual results, especially those reliant on activities
by third parties, could differ and are not guaranteed. Any
forward-looking statements should be considered accordingly.
“SPD-Smart” and “SPD-SmartGlass” are trademarks of Research
CONTACTJoseph M. HararyPresident and CEO Research Frontiers Inc.