Microvision Announces Marc Onetto Will Not Stand for Re-Election to Board
REDMOND, Wash.--(BUSINESS WIRE)-- Microvision, Inc. (NASDAQ:MVIS), today announced that Marc Onetto will not stand for re-election to its Board of Directors. Mr. Onetto made the decision due to his time commitments at his current position as Senior Vice President, Worldwide Operations, with Amazon.com.
"I tremendously enjoyed being a member of Microvision's Board and overseeing in the short 3 years the transformation of a perpetual start-up to an up-and-coming products company with strong leadership that defined an exciting, consumer-focused business strategy and has demonstrated solid execution," said Marc Onetto. "We are entering an exciting time at Microvision as we are getting close to introducing the first PicoP accessory projector and I regret that due to my time requirements at Amazon I will not be standing for re-election to the Microvision Board of Directors."
"Over the past three years, Marc has been an outstanding member of the Microvision Board and he has provided great expertise and counsel," said Alexander Tokman, President and CEO of Microvision. "I want to thank him personally for his invaluable contributions to the company."
Microvision provides the PicoP display technology platform designed to enable next-generation display and imaging products for pico projectors, vehicle displays, and wearable displays that interface with mobile devices. The company also manufactures and sells its bar code scanner product line which features the company's proprietary MEMS technology. For more information, visit our website at www.microvision.com and our corporate blog at www.microvision.com/displayground.
Certain statements contained in this release, including those relating to product introduction and production 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: capital market risks, our ability to raise additional capital when needed; 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; our dependence on the defense industry and a limited number of government development contracts; 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 and other filings, including the Company's Annual Report on Form 10-K filed with the SEC. Except as expressly required by the 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.
Source: Microvision, Inc.
Released July 21, 2009