1/13/2006 12:31:00 PM
BOTHELL, Wash.–(BUSINESS WIRE)–Jan. 13, 2006–Microvision, Inc.
(NASDAQ: MVIS), announced management changes. Richard F. Rutkowski,
Chief Executive Officer, left the Company today. Alexander Tokman,
President and Chief Operating Officer, was named Chief Executive
Officer and a Director.
Mr. Tokman joined Microvision in July 2005 from GE Healthcare
where he most recently served as General Manager of its Global
Molecular Imaging & Radiopharmacy unit. Mr. Tokman led the strategic
definition, development and commercialization of several new GE
business segments that introduced a portfolio of breakthrough imaging
products. He led cross-functional business teams that developed and
executed operating plans that produced double-digit growth in revenue
and profitability by implementing key GE best practices in newly
acquired businesses, including multi-generational business and
technology roadmaps, product development discipline, go-to-market
strategies, and Six Sigma quality initiatives.
Walter Lack, Chairman of the Board, commented, “Microvision has
outstanding imaging and display technologies that enable multiple
exciting applications; however, we have had challenges in executing
our business plan. The Board believes that new leadership is an
important first step in an overall plan to strengthen this company and
achieve growth and profitability.”
Mr. Lack continued, “Alex Tokman was one of the rising stars at
GE, and the Board has been impressed with his contributions and
leadership over the past five months as President and COO of
Microvision. We believe his strong operational experience, leadership
skills and strategic vision are key to Microvision’s achieving its
Richard A. Raisig, Chief Financial Officer, resigned today. The
Company expects to conduct a search for his replacement.
Mr. Lack said, “We would like to thank Rick and Richard for their
contributions to Microvision. We wish them well in their future
Microvision plans to announce in the next few weeks a date for a
conference call to report on its strategic and operating plans for
2006 and beyond.
About Microvision: www.microvision.com.
Headquartered in Bothell, Wash., 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.
Certain statements contained in this release relating to achieving
business potential and 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: our ability to obtain financing; success of executive
transition; market acceptance of our technologies and products; 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 Form 10-K, as may be
amended, and its Quarterly Reports on Form 10-Q.
CONTACT: Microvision, Inc.
Matt Nichols, 425-415-6657
Brian Heagler, 425-415-6794
SOURCE: Microvision, Inc.