MicroVision Enhances Executive Team, Names New Chief Financial Officer and New Vice President of Marketing and Business Development

The Addition of Stephen Holt and Michael Franzi Sets Stage for Next Phase of MicroVision’s Growth

REDMOND, Wash.--(BUSINESS WIRE)-- MicroVision, Inc. (NASDAQ: MVIS), a leader in innovative ultra-miniature projection display technology, today announced new additions to its leadership team including the appointment of Stephen P. Holt, Chief Financial Officer. Michael J. Franzi also recently joined MicroVision as Vice President of Marketing and Business Development to lead the strategic marketing and customer acquisition activities for the company.

Holt brings more than 20 years of global financial management and operations experience with public and private companies across multiple industries including consumer electronics, transportation and software. He most recently served as Chief Financial Officer at PixelOptics where he played a lead role in bringing the company’s first electronic focusing eyewear product to market. At this venture capital-backed start-up, Holt raised capital and negotiated strategic partner agreements to license technology in addition to implementing policies and procedures to create an infrastructure capable of supporting rapid growth while maintaining a strong internal control environment. Holt is expected to help MicroVision accelerate its strategic growth initiatives, enhance operations and optimize profitability.

Franzi brings more than 30 years of leadership in marketing and business development for global technology companies and has deep expertise in licensing, most recently as vice president and general manager of the Sonic Focus product line at Synopsys Inc. In this position he was responsible for business development, product marketing and applications support for the licensing of intellectual property and technology across international markets. Prior to Synopsys Inc., Franzi was vice president of global licensing and business development for SRS Labs, Inc. where he led intellectual property and licensing initiatives. Franzi is focused on expanding MicroVision’s market presence through strategic definition and execution of MicroVision’s go-to-market activities for PicoP® display technology under the company’s licensing business model.

“We are excited to welcome Steve and Michael to MicroVision. These two seasoned executives bring valuable expertise to our team that aligns well with our ingredient brand licensing business model and culture,” said Alexander Tokman, president and CEO of MicroVision. “Our leadership team’s expertise and innovative ways to drive improvements in execution and profitability will be invaluable in helping to support our plans for growth.”

Holt and Franzi join Dale Zimmerman, Vice President of Research and Development, and Thomas Walker, Executive Vice President, Corporate, on the company’s executive team. Zimmerman has extensive experience in the display industry and broad experience developing and bringing innovative technologies to market. He was one of the pioneers at Texas Instruments who brought DLP technology to market. Walker has a long tenure with MicroVision where he has been integrally involved in negotiating development and licensing deals in addition to leading the acquisition of IP from Motorola in 2010. More recently his role was broadened and includes optimizing the monetization strategy and execution of the company’s highly regarded patent portfolio.

About MicroVision

MicroVision is the creator of PicoP® display technology, an ultra-miniature laser projection solution for mobile consumer electronics, automotive head-up displays and other applications. MicroVision’s patented display technology helps OEMs break down display boundaries and offer enhanced visibility to mobile experiences. Nearly two decades of research has led MicroVision to become an independently recognized leader in the development of intellectual property. MicroVision’s IP portfolio has been recognized by the Patent Board as a top 50 IP portfolio among global industrial companies and is also included in the Ocean Tomo 300 Patent Index. The company is based in Redmond, Wash.

For more information, visit the company’s website at www.microvision.com, on Facebook at www.facebook.com/MicroVisionInc or follow MicroVision on Twitter at @MicroVision.

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 growth, future product and technology development and sales, and those containing words such as “expects,” 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 raise additional capital when needed; products incorporating our PicoP display engine may not achieve market acceptance, commercial partners may not perform under agreements as anticipated, we may be unsuccessful in identifying parties interested in paying any amounts or amounts we deem desirable for the purchase or license of IP 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; 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; 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. 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.

Investors:
MicroVision, Inc.
Dawn Goetter, 425-882-6629
or
Media/PR:
Edelman
Joani Jones, 503-471-6863

Source: MicroVision, Inc.

Released April 23, 2013