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| [May 20, 2008] |
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eMagin Announces CEO
BELLEVUE, Wash. --(Business Wire)-- eMagin Corporation (OTCBB: EMAN) announced that Andrew Sculley has been appointed Chief Executive Officer and a member of the Company's Board of Directors, effective June 1, 2008. Sculley, formerly a senior executive at Eastman Kodak, will lead eMagin as the company continues to leverage its award-winning technology to expand its leadership position in organic light emitting diode (OLED) and personal imaging technologies.
Mr. Sculley most recently served as the General Manager of Kodak's OLED Systems Business Unit and Vice President of Kodak's Display Business, where he forged a number of alliances with flat panel display manufacturers. He held positions of increasing seniority over a 28 year period at Eastman Kodak, including positions in strategic planning, finance, legal, and purchasing, and served as manager of Operations and CFO of Kodak Japan Ltd. He served on the Board of Directors of Kodak Japan Ltd. and SK Display, a joint venture between Sanyo and Kodak to manufacture active matrix OLED displays, which was the first company to commercialize an active matrix direct view display for a mobile device.
"Andrew has an excellent track record in building business alliances, applying an outstanding blend of strategic, analytic, business and leadership skills," said Admiral Thomas Paulsen, eMagin's Chairman of the Board of Directors. "Andrew's strategic vision and his proven leadership ability will be important in unlocking the value of eMagin as we continue to position the Company for long-term sustainable growth. The Board and executive management believe that Andrew's experience is an excellent fit for the breadth of opportunity at eMagin. We look forward to working with him to facilitate eMagin's growth and success under his leadership."
Admiral Paulsen, who is currently serving as Acting Chief Executive Officer, will continue to serve as Chairman of the Board. Paul Campbell and Susan Jones retain their appointments of Interim CFO and Chief Business/Strategy Officer, respectively.
"I'm honored to have the opportunity to lead eMagin through the next chapter in its history," said Mr. Sculley. "I look forward to working with the team to capitalize on our innovative technologies and products such that the potential of eMagin is realized for all stakeholders."
Mr. Sculley holds an MBA from Carnegie-Mellon University and an MS in physics from Cornell University. He attended Harvard University's International Senior Management Program while an executive at Kodak. A more detailed biography is available on Form 8-K filed with the Securities and Exchange Commission on May 18, 2008.
About eMagin Corporation
A leader in OLED microdisplay technology, eMagin integrates high-resolution OLED microdisplays with magnifying optics to deliver virtual images comparable to large-screen computer and television displays in portable, low-power, lightweight personal displays. eMagin microdisplays provide near-eye imagery in a variety of products from military, industrial, medical and consumer OEMs. The company's own Z800 3DVisor provides 3D stereovision and headtracking for PC gaming, training and simulation, immersion therapy, and other applications. eMagin's microdisplay manufacturing and R&D operations are co-located with IBM on its campus in East Fishkill, New York. System design facilities and sales and marketing are located in Bellevue, Washington. More information about eMagin and its products is available at www.emagin.com.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including those regarding eMagin Corporation and its subsidiaries' expectations, intentions, strategies and beliefs pertaining to future events or future financial performance. All statements contained herein are based upon information available to eMagin's management as of the date hereof, and actual results may vary based upon future events, both within and without eMagin management's control. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential" or "continue," the negative of such terms, or other comparable terminology. These statements are only predictions. Actual events or results may differ materially from those in the forward-looking statements as a result of various important factors, including those described in the Company's most recent filings with the SEC. Although we believe that the expectations reflected in the forward-looking statements are reasonable, such statements should not be regarded as a representation by the Company, or any other person, that such forward-looking statements will be achieved. The business and operations of the Company are subject to substantial risks which increase the uncertainty inherent in forward-looking statements. We undertake no duty to update any of the forward-looking statements, whether as a result of new information, future events or otherwise. In light of the foregoing, readers are cautioned not to place undue reliance on such forward-looking statements.
Note: eMagin is a trademark of eMagin Corporation.
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