REDMOND, Wash., March 12, 2019 (GLOBE NEWSWIRE) -- MicroVision, Inc. (NASDAQ:MVIS), a leader in innovative ultra-miniature projection display and sensing technology, today announced that Slade Gorton will not stand for re-election to the board of directors and will step down when his current term expires at the company's 2019 annual meeting of shareholders.
Slade Gorton has been a member of MicroVision's Board of Directors since September 2003 and was Chairman of the Board and Lead Independent Director from 2006 to 2012. Gorton has a distinguished career including representing Washington State in the United States Senate for 18 years. Gorton also served as a Washington State Representative, State House Majority Leader and Attorney General of Washington, arguing 14 cases before the United States Supreme Court. After leaving the Senate, Gorton served as a Commissioner on the National Commission on Terrorist Attacks Upon the United States ("9-11 Commission"). He is currently Of Counsel at the law firm of K&L Gates, LLP and Counselor in Residence at the Slade Gorton International Policy Center.
"MicroVision has been incredibly fortunate to have Slade Gorton serve on the board and its committees for over 15 years," said Brian Turner, Chairman and Independent Director at MicroVision. "Slade's deep experience in law, government and leadership has provided great insight, guidance and tremendous value to the board and the company. He is a marvelous person to know and work alongside and will be greatly missed."
"I am proud to have been able to serve on the MicroVision board and experience the growth and evolution of the company," said Slade Gorton. "Having served on the MicroVision Board for over 15 years, including 6 years as Board Chair, I believe that the company is well positioned for growth and the time is right to not stand for re-election and retire from the Board when my term ends. While I will miss working with my fellow board members, I remain excited about the company's future."
MicroVision is the creator of PicoP® scanning technology, an ultra-miniature sensing and projection solution based on the laser beam scanning methodology pioneered by the company. MicroVision's platform approach for this sensing and display solution means that its technology can be adapted to a wide array of applications and form factors. We combine our hardware, software, and algorithms to unlock value for our customers by providing them a differentiated advanced solution for a rapidly evolving, always-on world.
Extensive 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 has been included in the Ocean Tomo 300 Patent Index. The company is based in Redmond, Washington.
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.
Certain statements contained in this release, including those relating to the company's future, developing products and solutions, opportunities to bring products to market, and those containing words such as "believe" 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.
Investor Relations Contact:
David H. Allen
Darrow Associates, Inc.
Source: MicroVision, Inc.