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Microvision, Inc. Announces Management Changes: Tokman Named CEO and Director

Microvision, Inc. Announces Management Changes: Tokman Named CEO and Director

BOTHELL, Wash.--(BUSINESS WIRE)--Jan. 13, 2006--Microvision, Inc. (NASDAQ: MVIS - News), 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 potential."

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 pursuits."

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.

Comments

  1. Pretty fast on the draw there, a new sppropriate photo and the news withing 3 minutes after it's announcement. Congrats.

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  2. I viewed this management change as something positive for the company.. not sure why the market reacted differently. Thanks for maintaining and updating this wonderful blog for us.

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  3. About time. These guys were the biggest loses ever to run a public company. The board should be ashamed they waited this ong. Go Alec, the future starts now.

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