7/7/2005 9:36:00 AM
BOTHELL, Wash.–(BUSINESS WIRE)–July 7, 2005–Microvision, Inc.
(NASDAQ: MVIS), the world leader in the development of scanned beam
displays and imaging products, announced today that it has named
Alexander Tokman as its President and Chief Operating Officer
effective July 18, 2005. Mr. Tokman will join the executive team in
developing strategic business roadmaps and will manage the Company’s
operations, including research and product development, manufacturing,
and sales and marketing. Steve Willey, who has served as the company’s
president since July 2002, will now serve as President, Consumer
Solutions and will continue to focus on leading the company’s
initiatives to develop unique display solutions for high volume
consumer electronics applications.
Mr. Tokman, 43, joins Microvision from GE Healthcare, a subsidiary
of General Electric, most recently serving as General Manager of its
Global Molecular Imaging & Radiopharmacy unit. Over the past few
years, Mr. Tokman has led cross-functional business and operations
teams that developed and executed operating plans that produced
double-digit growth in revenue and profitability. While improving the
operational effectiveness of newly acquired businesses, Mr. Tokman
implemented several key GE best practices, including
multi-generational business and technology roadmaps, product
development discipline, go-to-market strategies, and 6 Sigma/Quality
initiatives.
Mr. Tokman’s achievements also include leading the strategic
definition, development and commercialization of a new GE business
segment that introduced several breakthrough imaging products based on
a new hybrid Positron and Computed Tomography (PET/CT) technology that
has transformed the way oncology is practiced today in hospitals and
that added over $500 million in incremental organic revenue in the
first three years of its commercial introduction. During the same
period, he also increased the business’ contribution margin by double
digits and grew GE’s market share in the overall PET scanner segment
from 27% to 53%.
As one of GE’s Six Sigma and Design for Six Sigma (DFSS) pioneers,
Mr. Tokman drove the quality culture change across GE Healthcare as a
certified Black Belt and Master Black Belt in the late 90’s. Six Sigma
and DFSS are highly disciplined methodologies, processes and tools
that focus on developing and delivering products and services that are
characterized by high performance, quality, reliability and
serviceability all of which result in higher customer acceptance and
satisfaction. Mr. Tokman has a both a M.S. and B.S. degree in
electrical engineering from the University of Massachusetts,
Dartmouth.
“We are thrilled to have someone of Alex’s experience, leadership
and successes join the company,” said Microvision CEO Rick Rutkowski.
“During his 10-year career at GE, Alex demonstrated numerous times the
ability to develop and work with cross-functional teams to formulate
global business strategies that integrated core technological
strengths, market trends and product strategies to produce outstanding
financial results. GE has a well earned reputation for innovation,
quality and management and we are delighted to have Alex join our
team.”
“Microvision has world-class technology that I believe has
enormous potential in commercial, military and medical applications.
I’m looking forward to working with Microvision’s cross-functional
teams to bring success to the company and build long term value for
our shareholders,” said Mr. Tokman. “Leaving GE has been the most
difficult decision of my professional life, because for the past 10
years, I have had the privilege of working with some of the best
business minds and technology innovators in the healthcare industry.
However, I believe that Microvision has a unique mission and I am
excited to join this dynamic company to pursue truly extraordinary
market opportunities.”
About Microvision: www.microvision.com
Headquartered in Bothell, Washington, Microvision, Inc. is the
world leader in the development of high-resolution displays and
imaging systems based on the company’s proprietary silicon
micro-mirror technology. The company’s technology has applications in
a broad range of military, medical, industrial, professional and
consumer products.
Microvision and its scanned beam display technology have been
recognized by IEEE Spectrum Magazine as one of “10 tech companies for
the next 10 years.”
Forward Looking Statement
Certain statements contained in this release, including those
relating product applications are forward-looking statements that
involve a number of risks and uncertainties. Factors that could cause
actual results to differ materially from those projected in the
company’s forward-looking statements include the following: market
acceptance of our technologies and products; our ability to obtain
financing; 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 to
develop partnership opportunities; the timing of commercial product
launches; the ability to achieve key technical milestones in key
products; and other risk factors identified from time to time in the
company’s SEC reports, including in its Annual Report on 10-K for the
year ended December 31, 2004, and its Quarterly Reports on Form 10-Q.
CONTACT: Microvision, Inc.
Matt Nichols, 425-415-6657 (media)
or
Brian Heagler, 425-415-6794 (investors)
SOURCE: Microvision, Inc.