SpatiaLight's Board of Directors Names Don Suh New CEO
04 Novembre 2006 - 2:25AM
PR Newswire (US)
NOVATO, Calif., Nov. 3 /PRNewswire-FirstCall/ -- SpatiaLight, Inc.
(NASDAQ:HDTV), a leading developer and manufacturer of ultra
high-resolution Liquid Crystal on Silicon (LCoS) microdisplays for
the high definition television market, announced today that it has
appointed Don S. Suh, 49, as its new Chief Executive Officer,
replacing Robert A. Olins, 49, who had been the company's Chief
Executive Officer. Mr. Olins also resigned from SpatiaLight's Board
of Directors. For the past two years, Mr. Suh served as
SpatiaLight's Senior Vice President of Sales and Marketing.
Formerly, he was a senior executive at LG Electronics in the United
States, Asia and Europe, where he managed thousands of employees in
key sales and marketing divisions. Mr. Suh received the LG
Electronics' "Best Honored Employee of the Year Award" and received
the South Korean President's "Gold Tower-Order Medal" given for
achievements of outstanding export results. Suh remarked, "I am
excited about the opportunity to lead SpatiaLight and our unique
technology into the commercialization stage of the manufacturing
process. I also look forward to communicating good news to our
shareholders about manufacturing production, increasing sales,
customer product launches, and new R&D and marketing
initiatives. Robert has been instrumental in moving SpatiaLight
from a research and development company to a manufacturing company,
and I would like to thank him for his leadership and commitment to
SpatiaLight over these many years. We believe that SpatiaLight is
poised to successfully execute its commercial growth plan." Under
Olins' leadership, SpatiaLight has substantially advanced its LCoS
technology and manufacturing process, having moved from research
and development to volume production at its recently built
state-of-the-art South Korean manufacturing facility. LG
Electronics has been secured as the company's first Tier 1
customer, and several business development efforts are moving
forward with the potential for revenues in the future. In addition
to the appointment of Don Suh, the company announced the
appointment of David F. Hakala, 54, as Chairman of the Board of
Directors, replacing Lawrence Matteson who will remain a Board
member through December 31, 2006. Dr. Hakala will continue in the
capacity as Chief Operating Officer. Hakala commented, "I would
like to personally thank Robert for all his efforts and support
over the last few years. His numerous accomplishments include
securing financing for the company since his initial investment in
1996 and building SpatiaLight's LCoS business virtually from the
ground up. The company now stands on the cusp of several
significant achievements. Robert has been a great asset to this
management team and we are sorry to see him leave as an officer and
as a Board member, but we look forward to his continued advice as a
consultant to the company." Hakala added, "I welcome Don Suh into
his new role of CEO, and am confident in his ability to continue
building SpatiaLight into a strong commercial entity. I look
forward to serving the Board and company in my new role, and
believe that SpatiaLight is well positioned for long-term growth."
About SpatiaLight SpatiaLight, Inc., founded in 1989, manufactures
high-resolution LCoS microdisplays for use in high-definition
televisions and other display applications. The company
manufactures its products at its production facility in South
Korea. SpatiaLight is committed to developing microdisplay
technologies that will be the standard for the next generation of
high definition televisions and to providing OEMs with the most
cost effective, high-resolution microdisplays in the industry. For
more information about SpatiaLight, please visit the Company's
website at: http://www.spatialight.com/ . Safe Harbor Statement
This news release includes forward-looking statements that reflect
SpatiaLight's current expectations about its future results,
performance, prospects and opportunities. SpatiaLight has tried to
identify these forward-looking statements by using words and
phrases such as "may," "will," "expects," "anticipates,"
"believes," "intends," "estimates," "plan," "should," "typical,"
"preliminary," "we are confident" or similar expressions. These
forward-looking statements are based on information currently
available to SpatiaLight and are subject to a number of risks,
uncertainties and other factors that could cause SpatiaLight's
actual results, performance, prospects or opportunities in the
remainder of 2006 and beyond to differ materially from those
expressed in, or implied by, these forward-looking statements.
These risks and uncertainties are outlined in the Company's filings
with the U.S. Securities and Exchange Commission, including its
most recent reports on Form 10-Q and 10-K. DATASOURCE: SpatiaLight,
Inc. CONTACT: IR Department, SpatiaLight, Inc., +1-415-883-1693, or
Web site: http://www.spatialight.com/
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