Tailwinds’ Take: This addresses a noted weakspot for Vuzix, which was a lack of operational experience in key management positions. In addition, this is a major endorsement of both VUZI’s competitive position and the AR market in general.
ROCHESTER, N.Y., May 8, 2017 /PRNewswire/ — Vuzix® Corporation (NASDAQ: VUZI), (“Vuzix” or, the “Company”), a leading supplier of Smart Glasses, Augmented Reality (AR) and Virtual Reality (VR) technologies and products for the consumer and enterprise markets, is pleased to announce that the Company has appointed manufacturing, technology and operations veteran Paul Boris, former Vice President of Manufacturing Industries at GE Digital to the newly created role of Chief Operating Officer (COO).
Paul Boris joins Vuzix after spending the last two plus years at General Electric in a variety of executive leadership roles including CIO of Advanced Manufacturing Strategy, Site Leader of the Advanced Manufacturing and Software Technology Center and most recently as the Vice President of Manufacturing Industries of GE Digital. As CIO of Advanced Manufacturing Strategy for GE, he focused on driving GE’s innovative factory strategy to increase productivity and deliver the optimization of assets and operations. In his most recent role Paul focused on defining and enabling General Electric’s commercial strategy for Brilliant Manufacturing by working with companies to accelerate their own digital transformation.
Prior to working at General Electric, Paul spent over eight years in a variety of executive roles overseeing manufacturing and operations strategy at SAP. Paul was the dynamic force behind the Perfect Plant initiatives at SAP where he was Global Vice President, Enterprise Operations Management. He served as director at the National Association of Manufacturers (NAM), the US’s largest industrial trade association for just under five years to 2014. Mr. Boris’ breadth of manufacturing operations and technology-related capabilities and experiences enable him to bring significant value to Vuzix.
“Paul Boris has been an active and contributing member of the Vuzix Board of Directors for the past year and I’ve known Paul for several years dating back to his time as an executive at SAP,” said Paul J Travers, President and CEO of Vuzix. “As Vuzix business continues to expand the importance of adding a seasoned and well respected sales and manufacturing executive became paramount and to that end, I am excited to announce Paul Boris as our Chief Operating Officer. Vuzix looks forward to leveraging Mr. Boris’s unique skill set and leadership abilities to help carry Vuzix to the next level of excellence as an industry leader in augmented reality and wearable display technology.”
“Vuzix is in a position to help drive the digital transformation that is starting to accelerate for manufacturers, field engineering services and any number of use cases where data-driven decisions and real-time support are critical to effective operations and a successful outcome. By being the solution closest to the operator or technician, the eyepiece, Vuzix is a critical component of the digital thread that is emerging,” Paul Boris Vuzix’s new COO said. Mr. Boris continued, “I am excited to join a proven and innovative team to help drive Augmented Reality and smart glasses solutions that can produce the largest impact in the shortest possible time. The market is ripe for disruption and we intend to be at the leading edge.”
About Vuzix Corporation
Vuzix is a leading supplier of Smart-Glasses, Augmented Reality (AR) and Virtual Reality (VR) technologies and products for the consumer and enterprise markets. The Company’s products include personal display and wearable computing devices that offer users a portable high quality viewing experience, provide solutions for mobility, wearable displays and virtual and augmented reality. Vuzix holds 51 patents and 39 additional patents pending and numerous IP licenses in the Video Eyewear field. The Company has won Consumer Electronics Show (or CES) awards for innovation for the years 2005 to 2017 and several wireless technology innovation awards among others. Founded in 1997, Vuzix is a public company (NASDAQ: VUZI) with offices in Rochester, NY, Oxford, UK and Tokyo, Japan.
Forward-Looking Statements Disclaimer
Certain statements contained in this news release are “forward-looking statements” within the meaning of the Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. Forward looking statements contained in this release relate to the appointment of Paul Boris as COO and his impact on Vuzix, and among other things, the Company’s leadership in the Video Eyewear, VR and AR display industry. They are generally identified by words such as “believes,” “may,” “expects,” “anticipates,” “should” and similar expressions. Readers should not place undue reliance on such forward-looking statements, which are based upon the Company’s beliefs and assumptions as of the date of this release. The Company’s actual results could differ materially due to risk factors and other items described in more detail in the “Risk Factors” section of the Company’s Annual Reports and MD&A filed with the United States Securities and Exchange Commission and applicable Canadian securities regulators (copies of which may be obtained at www.sedar.com or www.sec.gov). Subsequent events and developments may cause these forward-looking statements to change. The Company specifically disclaims any obligation or intention to update or revise these forward-looking statements as a result of changed events or circumstances that occur after the date of this release, except as required by applicable law.
Media and Investor Relations Contact:
Matt Margolis, Director of Corporate Communications and Investor Relations, Vuzix Corporation
email@example.com Tel: (585) 359-5952
Andrew Haag, Managing Partner, IRTH Communications
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SOURCE Vuzix Corporation
Released May 8, 2017