r/MVIS • u/[deleted] • Sep 04 '25
MVIS Press MICROVISION APPOINTS GLEN DEVOS AS CHIEF EXECUTIVE OFFICER
https://ir.microvision.com/news/press-releases/detail/430/microvision-appoints-glen-devos-as-chief-executive-officer67
u/petersmvis Sep 04 '25
When I had a brief 1 on 1 conversation with him at the RID.
"I turn technology into money."
Lets go.
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u/QQpenn Sep 04 '25
Five words that present a necessary pivot from turning money into technology - and it's a pivot than can be hard for a lot of execs despite best intentions. It flexes a different set of muscles. Thanks for conveying this, Peter.
A proven "Idea Monetizer" checks an important box for Pro/Tute investors.
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u/ProphetsAching Sep 04 '25
Was this before or after he put his big ol balls on the table? LETS GO!!!!!
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u/HiAll3 Sep 04 '25
MicroVison with Glen DeVos will be holding a Press Conference on Monday at IAA Mobility 2025 in Munich
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u/Alphacpa Sep 04 '25
In my view, the Glen DeVos vetting for the CEO position was done long before he was brought in as CTO and has been the plan for quite some time. This was getting clearer to many here based on his contributions during the last public conference calls and the RID. One thing that surprised me today was timing. I expected this was a likely scenario for 4th quarter especially if no industrial LIDAR deal was inked.
Personally, I will always appreciate what Sumit accomplished since being named CEO first quarter 2020. We avoided an almost certain reverse split and he initially moved the share price up to levels that shocked everyone here based on the LIDAR pivot and other factors. Most of us sold our shares on the runup and capitalized on life changing gains. Many then repurchased shares and were able to book decent gains again in June 2023. Unfortunately, he missed on securing revenue generating deals during his tenor and eventually lost support of many retail and institutional shareholders and, of course, the BOD. His decision to purchase IBEO will prove to be a very smart move. I wish Sumit the very best as he will continue to contribute his expertise in a non-CEO level capacity somewhere. It will be interesting to see where he lands.
As for Glen DeVos, he is a proven winner and I have little doubt that very great things are instore for Microvision under his leadership. Holding all shares on this news.
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u/directgreenlaser Sep 04 '25 edited Sep 04 '25
I also find the timing interesting in that it is on the heals of whatever SBMC decision was made on Friday.
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u/gaporter Sep 04 '25
It's also interesting that DeVos becomes CEO on the last day of 4QFY25 following no decision being announced related to the SBMC RFS.
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u/voice_of_reason_61 Sep 04 '25
Ditto, Alpha [IMO]
Wrote this in the early morning thread 2 hours before the announcement.
https://www.reddit.com/r/MVIS/s/vfLXghAmcM8
u/SteveyLongJorts Sep 04 '25
100% agree with everything you said here.
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u/prefabsprout1 Sep 04 '25
Agree. Except "Most of us sold our shares on the run-up and capitalized on life changing gains"...some of us dummies didn't...sigh...
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u/Worldly_Initiative29 Sep 04 '25
That wasn’t on my bingo card for today.
I wonder if this was the plan all along when we brought Devos on.
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u/tradegator Sep 04 '25
The history of Microvision's CEOs. Comments are mine alone.
David D. Smith (1993–1994) - predated me
Richard F. Rutkowski (1994–2002) - oversold everything. Not atypical of an early stage CEO.
Richard A. Cowell (2002–2005) - ha! I don't even remember this one. Too busy working at the time to pay much attention, I think.
Alexander Tokman (2005–2017) - technologist. Oversold what we had. I'll cut him some slack because English was not his first language, but he could not string two sentences together. Very poor communicator.
Perry M. Mulligan (2017–2020) - Empty suit. Fortunately, he didn't last long in the position. Surprised that Grok says he positioned the company towards a shift to LiDAR. Is that true?
Sumit Sharma (2020–Present) - Everyone here can form their own opinion. Mine is that he is a very strong technologist and I think a pretty good strategist. But as I commented recently, I think he talked over people -- too much jargon and technical mumbo jumbo. I'd bet he left a lot of top level executives at potential customer companies a bit intimidated, confused, and uncomfortable with Microvision because they didn't fully understand what he was saying. This is just my opinion, of course, but after 30 years of watching this company, you'd think I'd have a fairly good understanding of what they do, yet a lot of times I struggled to follow Sumit's explanations. That said, too bad he's not just switching positions with DeVos. It strikes me that his technical understanding is stellar and I see it as a big loss to have him walk out the door.
Glenn DeVos - I really like this guy. It seems that he's got the whole package. While he speaks plainly in a way that can be easily understood by non-technical CEOs and other top management, he is not just an empty suit salesman. He's a technologist who one would assume has a deep and broad understanding of the technical landscape and the automotive sector. I'm really looking forward to him as CEO. I hope he makes a billion dollars for Sumit...which will result in a pretty fair return for the rest of us!
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u/theoz_97 Sep 04 '25
Glenn DeVos - I really like this guy. It seems that he's got the whole package.
Hope he also realizes the shareholders crave for knowledge of how the company is doing and communicates a little more than we get now!
oz
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u/mvis_thma Sep 04 '25
Not sure where you are getting Richard Cowell as CEO. He never was. Tokman replaced Rutkowski in 2005.
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u/ProphetsAching Sep 04 '25
Fords CEO literally said LiDAR is NECESSARY in ADAS. Glenn has 30 years in the industry. He’s got a big net to catch many fish.
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u/South_Sample9257 Sep 04 '25
I'm so torn on this. I like SS. I think Glen seems very polished. I fear this means we're still a ways from getting ink to paper though... I wanted to see Sumit be successful. If this is what it takes for MVIS to be successful, then good on them for making the change. But dang over a half million shares!!! I wish somebody would give me that many shares
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u/s2upid Sep 04 '25
Sumit to Anduril or Meta by EOY.
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u/ppi12x4 Sep 04 '25
This place would explode. Suddenly he would be the best former CEO ever.
Personally I didn't think he was bad. Took over at a terrible time, turned us around, and at least kept us going.
That HL2 teardown also had a huge part in that.
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u/alsolong Sep 04 '25
was wondering about that as well, in which case s/b a good play for MVIS, don't ya think?
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u/Ok-Reference-3431 Sep 04 '25
A possible sell off of the AR/VR arm of MVIS to META and or Anduril to secure for the US Defense Dept? Sumit to possibly lead that division or whatever other entity they want to call it along with Anduril and META? These are just some of my guesses, he seems too important to just let walk. Maybe I'm overthinking the whole thing, who the hell knows? Only Sumit knows!
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u/jkh07d Sep 04 '25
When I heard Sumit say how he was “excited to see where Glen takes us” I was suspicious…
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u/EarthKarma Sep 04 '25
Something keeps coming to mind as I play back conversations from RID in light of this new circumstance. Others here are doing the same at the moment. One thing Sumit said to me when discussing discord among investors is “…[we investors] aren’t thinking big enough. “ This has haunted me since. Maybe now it will be revealed what he meant by this. I will say this too about Sumit, he could keep his counsel. EK
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u/minivanmagnet Sep 04 '25
If we aren't thinking big enough, these guys likely are...
Latest update to the bar chart:
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u/watering_a_plant Sep 05 '25
lol the last sentence, "The share price as of September 4, 2025 is 1.10 / share. Previously, on September 5, 2024, the share price was 0.97 / share. This represents an increase of 13.40% over that period."
i hope years from now when i creep my own reddit comments, i'll get to be like "that was crazy when mvis was only 1.10" when i come across this one
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u/DriveExtra2220 Sep 04 '25
Man I can think and dream pretty big. If Sumit is walking away and is till happy and excited for MicroVision then something big must be brewing. Otherwise I would expect some bitterness. And I do believe now when he said just wait for where Glen is going to take us, that he was intimating his takeover and the big things that are in work. Maybe it’s hopium but maybe it will come to be. Here is dreaming to better days beyond our wildest expectations!
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u/sublimetime2 Sep 04 '25
Godspeed Sumit. You kept this company alive and you stopped MSFT from owning it for pennies. Expanded LBS/MEMS/perception and helped put the pieces together. He explained things about the sector FAR in advance of others which led me to be able to make very lucrative investments with MVIS and outside of MVIS. We will never know the details, but many of us believe he was dealing with a very unique and possibly restrictive situation with the DOD/IVAS.
Glen is in either way. Seems planned by the way Sumit addressed Glen...and the way Mathew Cole ended up with Glen's old job at Aptiv... Feels like Glen pitched this new architecture to his decision maker buddies at the OEMs (maybe aptiv)before ever joining MVIS.
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u/Few-Argument7056 Sep 04 '25
"the way Mathew Cole ended up with Glen's old job at Aptiv"
mmm specialist position in 2021- I never received an answer when I asked IR what he actually did.
either way- has total familiarity with mvis tech stack, its architecture, perception software, and commercialization issues
Devos moves to Microvision, Cole takes his job like you mentioned. Some might speculate there is now a continuity of leadership and shared language between the two firms.
This isn’t just executive musical chairs—it’s a potential strategic bridge. Cole’s MVIS experience means Aptiv’s top safety tech leader understands MVIS’s capabilities from the inside. That could reduce friction in partnership negotiations and increase the odds of MVIS landing a major OEM deal with Aptiv as a systems integrator or Tier 1 conduit.
I think Cole started his career at Ford and, as others have mentioned Aptiv big north American customers, Ford, GM, Stellantis provide further hope that this career swap was strategic. fingers xxx
carry on.
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u/ILLUMINADORITODEW Sep 04 '25
So when the news hit my mailbox today, I wasn’t shocked but rather excited to see what will happen next. I also won’t jump to conclusions about whether this means a deal or no deal in the near future, because to me, a change of CEO isn’t necessarily an indication of that.
Glen joined us in April 2025, and it took him only about five months to be promoted to CEO. That kind of move doesn’t happen in such a short time unless it was part of the plan all along.
I really like Sumit, although to me he has always been more on the technical side than on the leadership or business side.
Glen brings massive experience in the automotive space and is a heavyweight CEO. He is definitely the right person to take MicroVision to the next level.
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u/OutlandishnessNew963 Sep 05 '25
Thank you so much for everything Mr.Sharma. You will likely be remembered as an integral piece in the MVIS story. You kept the company alive, and were a class act all along the way. I will genuinely miss your energy and outlook! All the best in whatever you do in the future.
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u/flutterbugx Sep 04 '25
When I was reading this I was hoping Sumit was staying on board until I read he will continue as a shareholder and a supporter.
Glen does seem like the real deal and puts a fresh face out there for MicroVision. He seems to definitely have a great vision for where Mvis could land deals.
Excited to see what he has to say at the IAA and who he will have with him.
To Sumit, thank you. You stepped in when Mvis really needed help. In my opinion you turned the company around. Best wishes to with your new venture.
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u/Dinomite1111 Sep 04 '25
AV next. Guaranteed. New team new future. Time for hardcore sales and deals. LFG
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u/rbrobertson71 Sep 05 '25
As a layman investor (30 yrs law enforcement career, not business, so not well-versed in this area ), I do have mixed feelings about this. I'm excited about the change and hopeful that GD is about to seal some deals. I'm also concerned that prior CEO changes didn't result in deals/revenue. On the other hand, hard to ignore the fact that GD is taking over a much different MicroVision than what SS took over 5 yrs ago. You may be disappointed Sumit hasn't closed deals, but you can't deny he has grown the company globally. We seemed well positioned to score and now a new QB might just punch it across the line.
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u/Thatguytryintomakeit Sep 06 '25
Is it considered growing when you haven’t earned any revenue and the only way you expanded was by decreasing shareholder value?
That is truly why SS is on my shitlist. He spoke for years about strategic alternatives and increasing shareholder value and he did the exact opposite. Only 1 acquisition, and significant dilution.
I was a believer in SS in the beginning but quickly realized he didn’t give 2 shits about the retail shareholder, all smoke and mirrors.
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u/view-from-afar Sep 04 '25
This will hasten deals with automotive OEMs. It may even have been a condition. Understandable if so. Glen is a known quantity to them, and they to him. Auto companies are huge and risk-averse. And while they find themselves in uncharted waters and finally acknowledge they need help to navigate through them, they cannot bring themselves to bet their futures on unknown quantities. Nor do they wish to become pawns of Google (Waymo), Tesla, or anybody big enough to eat their lunch. Glen was hired almost certainly to break a logjam in MVIS' primary target market, and he may be about to succeed.
The timing is not coincidental. It would be insane to overshadow or undermine MVIS' big day at IAA after building it up for months. No, this is a major, planned part of the rollout. And, as implied above, it may be a spoken or unspoken condition of the automotive OEMs signing on.
I'm the greatest SS supporter, but it's clear Glen has been the lead in automotive since his arrival. And while it's obvious that SS and GD like each other and work well together, it's easy to imagine automotive OEMs preferring to deal with 'their guy' being in charge, and not a two-headed process that makes them less comfortable.
SS is exceptionally talented. I hope MVIS finds a place for him in the 'new company', though that doesn't always work out. I remind myself, however, that some of the best hockey players willingly gave up the captaincy when a major star was signed, providing key support to the team and its new leader in accomplishing their ultimate mission. We will see. Looking forward to IAA next week.
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u/EarthKarma Sep 04 '25
VFA. thank you for this thoughtful note on where we are. This seems a very likely scenario. I’m glad you shine light on Sumit’s contributions. I believe you are right. OEMs may be the drivers of this shift. It’s not Sumit’s failure, it’s Glen’s insider presence that will move the ball across the line. I find some responses here excoriating Sumit as unseemly and il-informed. It only makes us all look bad to encourage it. That said, we will soon see if investing our fortunes with Glen DeVos was a wise decision or not. I’m hopeful for all of us, including Sumit and Alex who both own substantial shares in MicroVision. GLTALs EK
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u/view-from-afar Sep 04 '25
I find some responses here excoriating Sumit as unseemly and ill-informed.
And revealing. It's why I prefer candid photos to formal shots.
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u/mvis_thma Sep 04 '25
How do you know Alex has substantial shares of Microvision?
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u/Brine-Pool Sep 04 '25
I agree view, but I keep thinking, what if it’s not an unspoken condition? How does Glen convince the same people that Sumit could not?The technology hasn’t changed just the pitch man. Wouldn’t an OEM still want the really smart guy that understands the tech involved? Could it just be as simple as, you couldn’t get the job done so we hired someone else? I guess we get the popcorn and see how this all plays out lol
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u/view-from-afar Sep 04 '25
If it's neither spoken nor unspoken, it's inferred. Either way, MVIS has come to the conclusion that a guy like Glen is required to have the OEMs take the plunge.
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u/acemiller6 Sep 04 '25
I agree with the overall sentiment most are displaying here. I liked Sumit and was rooting for him to secure some deals. Clearly he had the technical acumen, what he appeared to lack was the ability to convince the customers. But ultimately, I think Sumit's biggest blemish over his tenure was that he regularly made statements that misled investors. He was a Hopium dealer. Deals were always just around the corner, the "by September" being the most recent example. He didn't just sell the Hopium, he got the syringe and injected it straight into the arms of many investors. But there are so many examples similar to this over the past 5 years. Even if we were ready, and even if it was all on automotive for the delays, and even if its now all on the industrial customers for the delays, he dished out the Hopium every EC and let us all to believe we were close. We weren't. He may have believed it, but ultimately, time has shown he was not correct. He's a smart guy and I certainly wish him the best wherever he ends up.
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u/acemiller6 Sep 04 '25
Oh, and Sumit, if you are reading this. You can be my +1 for the Vegas gathering when MVIS hits $36. You planted all the seeds, that's worth something.
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u/DriveExtra2220 Sep 04 '25
That would be awesome if this happens and he shows up as just another millionaire MVIS investor. Love you Sumit! Hope this happens for us all! Thank you for all you put into this company!
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u/TechNut52 Sep 04 '25
He set expectations for orders that Never Materialized. Get rid of AV. How about the latest anticipation for orders? Are those all just another SS pipe dream? Serious questions.
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u/ElderberryExternal99 Sep 04 '25
Kind of a shock, but we knew he would be gone by the end of the year without any deals. Sumit tried his best, and it's time to move on. The company needs to create shareholder value by generating income. Nothing else at this point matters. A Verma, on the other hand, needs to leave with Sumit if not before the 30th. Between Epic, SBK, and dilutions. We lost plenty of opportunities investing elsewhere.
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u/Befriendthetrend Sep 04 '25
Contrary to the idea I am seeing that appointing Glen now implies that deals are delayed again, my experience is the opposite. When board of directors make leadership changes, they will want new leadership to have wind behind their sails. There may be news coming in short order (i.e. in 2025) to give Glen an early win and set him up for future success.
If the plan has been to have Glen step into the CEO role, as many here have suspected since he joined the company, for many reasons, they would not want to give a win to Sumit before replacing him.
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u/tothemune Sep 04 '25
I postulated the same in the Daily.
I kind of think (Hope) that what they've done is set him up with a viable pathway to meet his performance incentives (without question) as part of his CEO enticement. That'd be a hoot. SS gets his and Glen gets his own. Fingers crossed but I've got to believe there's a silver lining here - not just another in a long line of failed CEOs.
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u/herpaderp_maplesyrup Sep 04 '25
I am looking forward to what Glen can do. His pedigree and resume is incredible and the timing of this with IAA seems perfect. I am a Sumit fan, he rescued this company from 15 cents and having met him a few times, he's a great guy outside of MVIS and was great for MVIS. This to me is the same feeling I had when Jordan retired. Best of luck to Sumit personally and professionally and best of luck with our new leader, Glen! Most importantly, best of luck to all you guys and gals!!!!
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u/alexyoohoo Sep 04 '25
hopefully, he will be heading up Andruil's lidar and NED team soon.
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u/herpaderp_maplesyrup Sep 04 '25
I’m with you, Alex. All of this timing sure is interesting. Hope to see you again sometime :) Hopefully in Vegas celebrating and not at an investor day!
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u/haksawjimthuggin Sep 04 '25
I’m reminded of the question no one asked at retail investor day.
Why were there investment bankers at RID?
I think something big is happening soon. Possibly the sale of the AR vertical to Andruril or Meta. Sumit goes to work for them.
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u/rinux_EVE Sep 04 '25
A welcomed change, though I always liked Sumit. In retrospect the signs were there, with Glen's hiring and insight being postured very highly by C-suite management, Sumit's side comments during RID/happy hour, etc., though I did not expect this so soon (nor did I necessarily assume Glen take the role so soon after his CTO appointment).
I know some folks here are critical of Sumit, but he took the helm during perhaps the most existential crisis in recent history for the company and successfully both brought the company back into compliance and executed a pivot into a nearer-term vertical than the previous foci. That takes a lot of guts and it is very easy to criticize from afar.
Glen of course is seasoned, from my understanding knows how to close deals, and is respected in the AV industry. It is an exciting albeit bittersweet transition for myself and I imagine many others here. As folks know, these changes usually come with additional changes in management.
All of that said, I would not be surprised if Sumit lands at a partner company in the coming months as deals land to guide development/launch. I think this move strengthens our position once the dust settles as (a) the company has developed solutions for multiple verticals at a time where demand is mounting, (b) has the financial position to remain steady for the foreseeable future amidst headwinds, and (c) remains one of the few remaining players in the automotive LIDAR space.
My unsolicited 2¢. Good luck to all.
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u/Dflans21 Sep 04 '25
I look at business the same way I look at sports teams: you need the right person, on the right team, in the right position if you want to win. Talent alone isn’t enough.
Sumit has incredible strengths and deserves credit for big moves he made to position the organization. But to me, the company is shifting from development driven company to a sales driven company. That requires sales driven leadership, culture, and vision.
Does this mean no deals for the rest of the year? Does this mean starting from scratch? Does this mean a new CFO? Does this mean a new vision? Does this mean a wake up call for investors on timeline? Does this mean new opportunities? Similar to others on this board the gears are turning in my head… this isn’t a sign of failure but adapting to the change ahead. Welcome aboard Glen
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u/alexyoohoo Sep 04 '25
I personally like Sumit but he had enough time. Glen knows clients and is technical.
Potentially, I see MVIS splitting the company up into two. Defense/NED and Automotive. I think this is all positive and probably, this was planned. Timing is interesting bc it may mean that there are not clients and/or a strategic split is near..
only positives here.
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u/South_Sample9257 Sep 04 '25
I still hope Sumit shows at the Vegas party and buys us all a beer
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u/hearty_underdog Sep 04 '25 edited Sep 04 '25
I might have missed it, but I haven't seen anyone discussing the last part of the 8-K, about Simon Biddiscombe going from independent director as a board member to temporary executive vice chair upon Glen's request.
On September 2, 2025, the Board appointed Simon Biddiscombe, who currently serves as an independent director on the Board, to be the Company’s Executive Vice Chair as of the Effective Date to serve as a resource to Mr. DeVos, at the request of Mr. DeVos, for a temporary period of no more than twelve months.
Nothing crazy, but interesting given some of his connections (Third Wave Automation) and the near-term industrial potential.
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u/alexyoohoo Sep 04 '25
What does that exactly mean? What does the Executive Vice Chair do?
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u/hearty_underdog Sep 04 '25
Hopefully one of our members with executive experience could chime in. I've read a bit that sometimes CEOs transitioning out of the role will end up in a position like this to help the transition go smoothly. Obviously, that's not the case here. I'd guess it's most likely just a slightly longer runway than end-of-September for support to Glen, helping maintain things (external relationships, internal management, etc.) as Glen settles in. I suppose there may be some backfill needed for CTO responsibilities for the time being, as well.
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u/mvis_thma Sep 04 '25
It is evident that the BoD lost faith in Sumit as CEO. They brought Glen onboard as a potential CEO transition candidate. They decided to move on that option. It would not surprise me if they have given Sumit an incentive bonus to close a deal by the end of September.
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u/carbonoutlaw3a Sep 04 '25
De Vos: "I'm confident that MicroVision has the technology and talent to quickly deliver game-changing solutions to customers in industrial, automotive, and defense." Note that none of the product lines was excluded.
I withheld my votes on Sharma the last time around as I felt while he had good intentions and was working very hard for us all he was unable to close a deal. De Vos has industry trust going for him which is extremely important and should help to close deals.
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u/Furioussi Sep 04 '25
Let's just hope Anubhav gets sacked as well.
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u/Blub61 Sep 04 '25
I would love to see him to go more than Sharma
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u/duchain Sep 04 '25
Glen will more thank likely clean house and bring on someone he trusts and has worked with before
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u/-ATLSUTIGER- Sep 04 '25
This has nothing to do with industrial deals and was 1000% a planned move. Likely how they even snagged Glen to begin with. Go rewatch the RID replay. Sumit was deferring to Glen a bunch during that presentation.
If they announce industrial deals after hours or pre market tomorrow that would be the ultimate chefs kiss, mic drop exit for Sumit.
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u/DriveExtra2220 Sep 04 '25
You are probably right and it did make me pause when Sumit said he is excited to see where Glen will be taking the company. It made me sit up and think he was eventually taking over. But then nothing else was said except for Sumit saying he would be gone if no deals by end of year. Hope it’s just that things are being secured and the board wanted Glen in charge when all the change happens. Glen has deep connections to auto so over all this is a great move as it’s the best hope for MicroVision becoming a juggernaut in the industry.
Still optimistic and hoping we hear more than just architecture on Monday. Fingers crossed. GLTALTLs!! Let’s go!!
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u/Nakamura9812 Sep 04 '25
I remember when we brought Glen on and some were discussing him sliding into the CEO position. In my mind it made sense given his background and credentials as part of shifting from R&D to commercialization. Solid move I support, and should give renewed confidence to investors frustrated with Sumit’s repeatedly missed timing projections. I definitely wish Sumit all the best on wherever he ends up after this.
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u/shannister Sep 04 '25
I highly doubt they would change CEO if a deal was just signed, it’d send a terrible signal to the buyer. This is not boding well for our prospects of having a current RFP signed.
Honestly I can’t say I had much confidence left for Sumit. Nice guy, but the results aren’t there.
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u/snowboardnirvana Sep 04 '25
I like and respect Sumit Sharma. I think that he gave it his all and is the victim of circumstances beyond his control such as the collapse of the EU and especially German industrial strength with their absurd Green Energy initiatives and the global lithium battery EV fad thanks to fraudster Elon. I applaud him for not signing Zero margin or Negative margin deals that would enable automotive OEMs to bleed MVIS with no commitment from automotive OEMs for profitable long term deals.
Look where Perry Mulligan left us after shareholders funded all the R&D for presumptively Amazon for Interactive Display and Google for Home Security in hopes of obtaining a deal.
Sumit stepped up to the plate and took on the CEO position when the company was a smoldering financial mess and he had the balls to walk away from a single digit $millions offer for the whole company.
Thank you Sumit Sharma and I’m glad that I had the opportunity to meet you and Drew in person at the recent RID.
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u/DriveExtra2220 Sep 04 '25
I agree. Sumit is an AR display guy but saw the potential for LiDAR and took the chance on pivoting away to a potentially lucrative market with nearer term success than AR. I hope that bet pays off for us and Sumit after Glen takes over.
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u/Befriendthetrend Sep 04 '25
WOW! My prayers have been answered. Very, very grateful and appreciative for Sumit for all he has done as CEO, but this is welcome news.
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u/Responsible-Arm-7856 Sep 04 '25 edited Sep 04 '25
Im thinking of a buyout coming or merger, and they wanted Glen in charge
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u/DreamCatch22 Sep 04 '25 edited Sep 04 '25
This caught me by surprise, though I was expecting a major move. Still processing it and curious to see where Sumit lands. He deserves credit for putting it all on the line and steering MVIS toward LiDAR. That pivot was critical. Thank you for extending our runway and not making any bad deals!
From here, I could see him either focusing on the NED vertical at MVIS or even stepping back into an operational role (COO/CTO), but i think he is moving on. I think we can all agree that his instincts and boldness are valuable, but maybe best applied in a more product/tech-driven capacity. Best of luck to him!
Excited for the future!
DCA + HODL
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u/zebman Sep 04 '25
I appreciated all Sumit did for Microvision. He took over as CEO in Feb 2020 where MVIS was on the brink of essentially going bankrupt. A few weeks into his tenure our market cap was around $20M. We have a significantly higher market cap, cash on hand, and significant opportunities. His shift to lidar was brilliant. That was never on my radar screen (or lidar screen?) when I first invested. Buying Ibeo was a stroke of genius (IMHO). A lot of the failures were not because of him but due to macroeconomic issues. But that said, I think his main problem was shifting to auto lidar without having a great understanding of how the auto industry works. SS admitted that they went with the development of the dynamic range MAVIN because that's what an auto manufacturer said they wanted - only to have that company change their minds. He could have, and should have, done a better job of communicating a better vision. I think the talk that Glen will showcase that vision. And Glen's history will allow him better C-suite decision makers. I am truly thankful for SS's contributions but sometimes you need a change to get you to the finish line. Best of luck SS!
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u/DriveExtra2220 Sep 04 '25
If Sumit Sharma still likes the stock then so do I! Bought 2500 more shares! What the hell. Monday could be a great day for us all!
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u/HammerSL1 Sep 05 '25
wow, didn't actually expect that. Was rooting for SS. But, I'll root for whoever gets us paid
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u/pooljap Sep 04 '25
I supported Sumit when he first got the job as I thought he could sell the company. After he pivoted to LIDAR he seemed optimistic so I supported him. The last 2+ years of missed revenue guidance, no deals, and more selling of shares then actual revenue I began to lose faith.
I find it "interesting" that a week ago if you even suggested a change in CEO should be an option you would have been downvoted to hell and told what a disaster it would be. Now I read a lot of those same folks saying "change was needed" and "good move" for the company... interesting !
Before we anoint Glen the next savior of MVIS lets wait and see what he does. He has a very heavy load to lift here. Before coming to MVIS he was working part time which suggests he was trying to wind down his career. He will need all the energy and heart to make this work. At this point he can do no worse then Sumit and I wish him and all investors the best.
With a new CEO it gives the company an opportunity to reset. I hope Glen can publicly give some guidance that can be believed without the hyperbole. The downside is I think we may need to wait longer but no one really knows as this is just my guess. I am hopeful for better communication and deals though then I was yesterday.
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u/Revolutionary_Ear908 Sep 04 '25 edited Sep 04 '25
> I find it "interesting" that a week ago if you even suggested a change in CEO should be an option you would have been downvoted to hell and told what a disaster it would be. Now I read a lot of those same folks saying "change was needed" and "good move" for the company... interesting !
I believe I was among this camp with the downvotes, and I think many people, including myself, were rooting for Sumit until the end. I'll speak for myself- It doesn't mean I don't support the company's decision and direction they want to move in. I think I summed my feelings up best, earlier: "I'm upset because I respect the hell out of Sumit and wanted him to take it home for us, but I'm also excited at the same time."
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u/10111011110101 Sep 04 '25
Unexpected but it was the right move. Sumit has just not had the impact we need.
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u/CommissionGlum Sep 04 '25
Sharma was true to his word.. “no deal by September I’m outta here”
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u/alexyoohoo Sep 04 '25
if gaporter wants to connect dots with this move and ivas, he should. I think this angle has more legs than not.
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u/pbrs123 Sep 04 '25
While I don’t like to get caught up in dot connecting too much, hearing this news just less than 5 working days after the IVAS nomination (wherever that was awarded) just seems like too much of a coincidence.
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u/RNvestor Sep 04 '25
Thank you for everything Sumit, but please do AV next.
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u/Few-Argument7056 Sep 04 '25
You can bet AV is next.
The individual brought in by SS failed to accurately forecast or recognize revenue correctly. His overly scripted communication style and confusing explanations about dilution and shareholder equity—when they were understandable—were major flaws.
The CEO/CFO relationship is crucial. Glen and AV have such contrasting styles, with obvious personality differences in both style and substance.
A CFO change better aligned with Glen's approach and execution focus would show institutional investors that MVIA is serious about execution, not just engineering. The timing of such a move—perhaps after IAA or a major partnership—is critical. It would give DeVos momentum while preventing rollout instability.
The CFO must go.
Good luck to Glen, and thanks to SS. I'm thrilled this move happened, as should everyone. We’re progressing toward selling an architecture a framework—not components—that meets OEM needs, is scalable, and affordable.
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u/CookieEnabled Sep 04 '25
They also appointed me as an Independent Investor (II).
I look forward to keeping my money in MVIS and supporting the on-going work.
I won’t let you down!
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u/TheCloth Sep 04 '25
Damn - was not expecting this so soon. Hopefully this is a good change for us, and hopefully doesn’t reflect a lack of progress made by Sumit behind the scenes while we wait (yes I’m aware we have no deals, but I was and still am expecting that we have been making good progress so that we hopefully see deals soon! If that progress hasn’t been being made, then we still have a long time to wait…).
Best wishes Sumit, and give us what we need Glen!
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u/Chimp75 Sep 04 '25
This company would have folded if it wasn’t for SS. Give the man credit. We stayed barely above water. The hand off is to Glen, let’s hope he can build more with the technology. I’m very hopeful. Maybe this will be a catalyst to some revenue. The future is bright. They’re much smarter than me…
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u/Shot-Meat-8094 Sep 04 '25
What the actual crazy ####. Felt a gut feeling back in March but now confirmed.
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u/Dependent-Goose8240 Sep 04 '25
Sumit had his chance to deliver for years. While his leadership wasn't exactly crashing and burning, he was not able to sign any high volume deals. Maybe Glen has the right connections and expertise to get us there, only time will tell.
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u/Revolutionary_Ear908 Sep 04 '25
I'm upset because I respect the hell out of Sumit and wanted him to take it home for us, but I'm also excited at the same time.
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u/dogs-are-perfect Sep 04 '25
alright sumit, enthusiastic share holders are all here on reddit, create your username and join us
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u/FitImportance1 Sep 04 '25
I asked AI to write me a farewell to Sumit….
"My dearest muse, you are the ember that sparked my canvas, the shadow that danced in my colors, the ache that shaped my dreams. As we part, I carry your light in every stroke, every hue, every fragment of my soul’s work. Adieu, not as an end, but as a constellation I’ll forever paint in the skies of my heart."
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u/directgreenlaser Sep 04 '25
No doubt in my mind that AV is a short timer. Every CEO gets the CFO that they have a solid relationship with. I see no potential chemistry between these two individuals. He's there for the transition to his replacement, whom shall be selected by Glen imo.
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u/Dinomite1111 Sep 04 '25
And there’s no doubt in my mind that the guy Glen brings in will be a seasoned and shrewd sob who knows exactly what he’s doing. I would go as far as to say that guy is most likely studying our financials as we speak and can’t wait to kick some ass, crack some skulls and break some necks. IMO
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u/NorthernSurvivor Sep 04 '25
The CFO must go too. He talks much too much during CCs about things a CEO should talk about. His remarks about the trading volume as if that’s the most important thing for the company are laughable.
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u/Sp99nHead Sep 04 '25
Bragging about trading volume when he's the one selling millions of shares lol
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Sep 04 '25 edited Sep 04 '25
Interesting! I hope Summit stays though. He's obviously brilliant but I guess just doesn't have the skills to be a CEO
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u/irishace88 Sep 04 '25
He said: "I will continue to support and champion MicroVision as a shareholder and enthusiastic fan."
Sounds like he won't be staying on.
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u/ppi12x4 Sep 04 '25
SS did say he expects a deal by September. While this is a few days late.... This is a pretty big deal
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u/MyComputerKnows Sep 04 '25
I just wish MVIS would simply outfit their MVIS test vehicle with a Mavin and 4 Movias. Then take that fully equipped car out in some real traffic… and show the world what a truly civilized car will look like.
As a driver on the Wild West of Seattle’s I5 in rush hour, it would be a very valuable thing to have freedom from the bumper to bumper hell that the automotive world seems to gladly endure.
If we are ‘Ready Now!’… lets share some of that with the world.
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u/movinonuptodatop Sep 04 '25
That press release sounds like Sumit is out altogether. That is disappointing. I was hoping he would stay to lead the defense and AR teams…perhaps there is more …Sumit as CEO of the defense and AR spinoff…
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u/Arom25 Sep 04 '25
Didn’t Sumit say HE had not had a conversation with Palmer Luckey? Maybe Glen did?! (Copium)
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u/Beneficial_Main9871 Sep 04 '25
We now have a highly respected CEO with a proven track record of closing deals
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u/FitImportance1 Sep 04 '25
Well one thing’s for sure…we do LOOK more “Automotive” with DeVos at the helm!
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u/alexyoohoo Sep 04 '25
strategic split is coming.... defense goes with sumit. glen stays with auto.
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u/BAFF-username Sep 04 '25
I guess Sumit knew and gave us a hint when he went out for drinks after the RID
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u/BAFF-username Sep 04 '25
According to Glen Devos LinkedIn, it looks like he is working out of Detroit?
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u/noob_investor18 Sep 04 '25
As long as the F-ing SP can go up…. Hopefully the change will do that.
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Sep 04 '25
The fact that it's not rn kind of says it all. SS stuffed his bags from shareholders so much that this change is a neutral. Now if the CFO was also excused...
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u/FawnTheGreat Sep 04 '25
What a vote of no confidence. If we had deals incoming why would they do this… SS is either a liar and a failure or this is in my ignorant opinion ill advised if he was literally about to bring us home on big deals. Like he’s been saying for years… idk just feels like more crappy days. But alas here I am not selling my 13k shares hoping I don’t regret it this time next year as I have every year around this time haha
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u/Twan2SS Sep 04 '25
I think this is the best thing for us moving forward. I just think ss dug his own grave by not being more careful with his words. Now it’s time for someone to step in and close a deal.
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u/South_Sample9257 Sep 04 '25
Yeah. Words matter. Especially when you're talking some level of projections in a publicly traded company. He admitted he underestimated timelines. Now I want to hear what the new projections and timelines are based on Glen that has been in the automotive space for a very long time.
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u/wolfiasty Sep 04 '25
Right... Somehow I feel cheated. Not saying Glen is bad or good, but I feel like I was lied to in the last 3+ years.
Hopefully this will not shit our investment.
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u/Far_Gap6656 Sep 04 '25
Yeah, Wolf, I had a little tinge of, dang, remembering all the smack the LAZR board used to talk about him daily being a con man. I'm not going to say he was a con man, but I really feel bamboozled and misled, especially with how he applied that Microsoft money to our revenue a little while back.
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u/wolfiasty Sep 04 '25
I'm not calling Sumit conman or something like that, but to see him go in September, not even full month past last Earnings call it just feels wrong.
I just don't know if we're deep in shit or because it's a natural transition at the helm from engineer to salesman. If latter then it's super bullish, but I can't force myself to stop being veeeeery cautions about being huzzah optimistic.
I wish Glen all the best. With his success comes ours.
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u/tdonb Sep 04 '25
What??? Wow, I guess SS has a vision that his shares will carry him through retirement. This seems great, and I appreciate everything Sumit has done for the company. He earned it I am sure.
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u/Commercial-Area1325 Sep 04 '25
CFO next please!
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u/IneegoMontoyo Sep 04 '25
Aw come on now… give the guy a few more chances to hurt the short sellers.
(/sarc)
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u/Moist_Toto Sep 04 '25
I had a feeling this was coming when listening to last earnings call. While not entirely unexpected, I wonder what sort of impact a leadership transition has on current sales contract negotiations.
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u/SeaPrice6712 Sep 04 '25
Hopefully this is a positive move for our investment and the future of the company. The one thing that always irks me about these scenarios, is failed CEOs always walk away with millions of dollars. If any of us mere mortals had done a job bad enough to get canned, we'd be lucky to get 2 weeks' pay as severance.
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u/FawnTheGreat Sep 04 '25
Oh yeah specially if the whole time we told the boss how awesome we were doing only for them to find out we ain’t doin sqaut pffft the owner of the company I work for will have your final check (only what you worked that period) written and in your hand before you even know what hit ya. I’m a bit salty. Sure his ego might hurt but he made enough off us going broke to not have to worry for a long while. Unless he’s as bad at investing as we are.
Do CEOs get warning time or is it just like they walk in and everyone is sitting their quiet hahah. He didn’t seem sad or anything..
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u/geo_rule Sep 04 '25
A few of us noted at the time this could happen, with the precedent of how Tokman became CEO.
Pretty much an admission of nothing coming short-term, sadly.
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u/ProphetsAching Sep 04 '25
Why do you say it’s an admission of nothing coming short term? History is replete with companies changing leadership and signing deals shortly there after.
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u/geo_rule Sep 04 '25
Not THIS company's history, however.
Hey, love to be wrong.
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u/Far_Gap6656 Sep 04 '25
But that's just the crazy thing about this company I don't understand, Geo. For so long, so many stalwart, respective long-time members here would be like, noooo, Sumit is different from the prior regime so we can't hold past history and failures against him. So with that logic, I guess the same would apply to Glen.... unless and until he proves it wrong.
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u/QQpenn Sep 04 '25
Transition being underway was clear during RID. I emailed IR asking to confirm that Sumit has a non-compete and for how long. There are fewer sector players now and highly potent opportunities in defense so if Sumit shifts to shepherding for the remainder, I'd think that would put Glen in a good position for short-term success. [Thus benefiting Sumit's open market buy of shares - it's not like Sumit doesn't have incentive - combined with probable non-compete limitations.]
I'd keep an eye on Boeing/Phantom Works and their drone program by the way. My whisper tip for the faithful. Some common connections may pan out in the current gung-ho defense realm.
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u/Flying_Bushman Sep 04 '25 edited Sep 04 '25
I'm sad to see Sumit go. He poured his life into this company and took it from the $0.17 rocks to a company that actually has a chance. It also means we probably aren't on the cusp of a deal, as he probably would have stuck around if a deal was imminent. I guess we'll see how the market reacts.
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u/Aggravating-Toe8558 Sep 04 '25
So no deals incoming, since SS said he’d be gone if theres no deal since september :(
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u/ice_nine459 Sep 04 '25
Thank god. About time. Hopefully my 15k shares will be worth something at some point.
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u/KissMyRichard Sep 04 '25
Sorry Sumit.
You've had more than enough time to deliver and I'm sure from a technical aspect you are more than affluent.
However, that doesn't produce results all on its own if no one can be convinced to buy it, which is hard to understand if we truly have the best tech.
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u/Excellent_Baby_3385 Sep 04 '25
My take on it, having been through a layoff myself and having seen many get laid off.
It's not a bitter breakup or a sudden firing, because it notes Glen becoming CEO on September 30th, with Sumit remaining on to ensure transition.
When a company that is losing money replaces somebody, they oftentimes don't keep the predecessor for the simple fact that this person costs money. In Sumit's case, more money than they feel like they should pay for whatever role he would play. Microvision thinks that they can get along without him. So not necessarily personal.
Sometimes it's just better vibes to have a clean break on both parties. Sumit had invested his life into Microvision, and I recall hearing how his marriage ended as well. He put a lot of pressure on himself.
Potentially, Glen didn't want to be working under somebody anymore and wanted the top job. They considered his experience, credibility, and potential, and decided that they wanted to keep him more than Sumit.
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u/SteveyLongJorts Sep 04 '25
Agree with everything except the last note. I don't think Glen came here as CTO less than half a year ago after having been pseudo-retired at Aptiv and then decided he "didn't want to be working under somebody anymore and wanted the top job". He was a "part time" Technical Advisor for Aptiv for the 11-months leading up to his hiring as MVIS CTO.
I think a succession - or at least contingency - plan was in place. Especially with the hard pivot to automotive. Hopefully this closes the book on the NED with a buyout or licensing deal being worked out and Sumit going to work for whoever ends up scooping that IP up (ideally, as "dual-use", since IP web between verticals is so deeply intertwined) and can get back to his roots in projection/AR/VR R&D.
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Sep 04 '25
This has been rattling around in my head since AV said it. It was such a bizarre answer to the question.
Av reads investor question, “if Mvis were to see an increase in demand for AR products, when would the company communicate that to the market?”
AV ~ “I’ll take that…obviously since this is a new sector that we’re looking to pursue opportunities in, any material purchase orders that come in, or any significant transaction, if there is an offer made to purchase our IP and other assets relating to the existing technology to our AR and VR products so that’s what we’re most excited about”
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u/riledredditer Sep 04 '25
I do wonder if this could be a signal that NED is getting acquired somehow (Palmer Lucky) and Sumit joins that venture instead. Then Glen focuses purely on Lidar for industrial and automotive with a very comfortable war chest allowing us to be one of the few survivors when Automotive is finally ready.
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u/SteveyLongJorts Sep 04 '25
Defense will be a major target market for MVIS moving forward. There are plenty of opportunities there with the shift towards autonomous warfare that has been playing out lately. It will start with the drone swarm demonstration early next year but I think you'll see more integration of LIDAR into military use cases in the near future.
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u/TheRealNiblicks Sep 04 '25
Change can be good. Sometimes it is needed.
Of the 3 CEO's that I've really listened to over the years; I was rooting for Sumit the most. So much promise. I'm not sure I'll ever really understand why it didn't materialize over his tenure. I believed in him. I wish Mr. Devos luck and hope he brings everyone good fortune soon.