REDMOND, Wash.--(BUSINESS WIRE)--March 15, 2006--Microvision, Inc.
(Nasdaq:MVIS), today announced that Marc Onetto has joined its Board
of Directors. Mr. Onetto is currently Executive Vice President of
Worldwide Operations for Solectron, a $10 billion, leading global
provider of electronics manufacturing and integrated supply-chain
services to OEMs, including the world's leading industrial, consumer,
automobile, medical device, computing, networking and
telecommunications firms.
"We are thrilled to add someone of Marc's caliber and experience
to Microvision's Board," said Alexander Tokman, Microvision President
and CEO. "Through the years Marc has consistently demonstrated that he
is a strong operator, inspiring leader and real change agent. Marc's
extensive experience, knowledge and leadership in establishing and
managing global supply chain operations directly supports our business
objectives for 2006 and beyond, specifically as related to our new
initiatives focused on high-volume OEM product developments. Marc's
experience in strategic sourcing and global manufacturing will be
particularly beneficial as we progress toward bringing products to
market in such areas as automotive head-up displays, and hand-held,
head-worn and embedded micro-display solutions for a variety of
consumer, business and military applications."
"Microvision has world-class technology with enormous potential
and an abundance of exciting applications and opportunities," said Mr.
Onetto. "Alex is a demonstrated leader with the skills and experience
to put this Company in a position to succeed. This is an exciting
turnaround time for Microvision, and I am happy to be a part of its
new and reinvigorated team."
Mr. Onetto, 55, joined Solectron in 2003 and has nearly 30 years
of experience in supply-chain, operational, finance, IT and quality
management. In his current capacity, Mr. Onetto oversees 50,000
employees and is responsible for manufacturing, materials management,
quality, new product introduction, information technology, logistics
and repair operations. Mr. Onetto joined Solectron as part of a new
management team charged with the turnaround of the company. The
company has now reported six consecutive profitable quarters and, for
fiscal year 2005, reported its first net profit in the last five
years.
Prior to Solectron, Mr. Onetto had a distinguished 15-year career
with GE, where he most recently was vice president of GE Corporate's
European operations. From 1992 through 2002, he held several key top
executive leadership positions at GE Medical Systems as the head of
its global supply chain and operations, global quality, and global
process reengineering. He was one of GE's Six Sigma pioneers and an
original leader as he spearheaded the quality culture transformation
across GE Medical Systems. Marc's contributions to GE were recognized
in Jack Welch's book "Straight from the Gut."
"Marc's addition to the Board represents an important milestone in
our recently announced strategy to turn around the Company and improve
it at every level to position it for long-term growth and
profitability," concluded Tokman.
About Microvision (www.microvision.com)
Headquartered in Redmond, 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 enables solutions and products in
a broad range of industrial, consumer, military, and medical
applications.
Forward-Looking Statements
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., Redmond
Matt Nichols (media), 425-882-6657
Brian Heagler (investors), 425-882-6794
SOURCE: Microvision, Inc.