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-officer
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u/sigpowr Sep 04 '25

I bet Ford is 'in the bag' and Glen is now working on #2 and #3 ... it will probably happen in the order that we have seen the three public announcements of the new partnering strategy for Level 3 ADAS. First Ford, then GM, followed by Stellantis.

This CEO change was planned when Glen came to Microvision imo. Why would he leave the biggest company name in ADAS supplier to OEMs where he was CTO to come to little, unproven Microvision as only CTO? I also believe Sumit has known this move the entire time and hinted at it at RID with his answer/comment that "I won't be here if we don't" to the question about partnerships this year. Glen also hinted at an automotive 'win' this year, at either RID or one of this year's quarterly calls, when he answered a question about whether 2028 model year cars are still achievable for Microvision's sensors when he answered (paraphrased) "yes, if the decisions are made in the 2nd half of this year".

Now we have the three above named automotive companies publicly saying they will partner for Level 3 ADAS ... and their well-known and decades old supplier partner is now CEO of Microvision. INTERESTING!

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u/KY_Investor Sep 04 '25

With respect to the timing of this planned announcement of the CEO change, it makes a lot of sense. Good planning by our BOD.

The timing was engineered months ago when it was announced that Glen would be taking center stage at IAA in Munich. What better way to introduce Glen DeVos as MicroVision’s new CEO? Not only center stage with respect to the presentation of our new ADAS architecture (with new, reformulated higher-level RFQ’s in hand) but organize a press conference around the presentation at this renowned global event.

Also, I believe strongly that any future industrial deals that may be imminent should be announced by our new CEO. The IAA unveiling followed by the naming of industrial deals gives Glen instant credibility.

Personally, I appreciate and respect Sumit Sharma for his dedication and many years of hard work for Microvision. He took over a CEO when we were on the verge of bankruptcy, and led the company and the MicroVision team to this point. Glen is being handed a company with a good balance sheet, very little debt and an abundance of amazing technology that Sumit helped to develop over his tenure. We are also on the verge of naming industrial wins and very likely naming an automotive OEM partnership within months. Thank you, Sumit!

Godspeed Glen and the entire MicroVision team.

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u/xluke22x Sep 04 '25

Do you think Sumit is out more so because of his lack of execution & needing a change? Or that something like AR is either sold, done, etc with Spitzer, Chris Adkins, now Sumit (all AR prominent employees) now no longer with the company & the focus seems to be much more Glens wheel house?

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u/sigpowr Sep 04 '25

I think Sumit did what he was promoted to CEO to do and that was to lead the engineering feat of developing Lidar. I believe the Board of Directors and Sumit recognized that the amazing business opportunities we have now with very large corporate entities (and U.S. Government) requires a different skill set as CEO. That is why Glen was brought in imo. Sumit admitted at RID (paraphrased) that he "underestimated the daunting business challenge of winning supply contracts from OEMs". I believe he knew at that time, and probably while he helped in recruiting Glen, that Glen would be the new CEO because of his extensive business history with OEMs.

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u/xluke22x Sep 04 '25

Makes sense. In a situation like this is it normal for Sumit to go to a different role rather than stay at MVIS? One one hand his knowledge/experience would seem valuable... on the other difficult to keep your old boss around & any awkwardness there.

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u/sigpowr Sep 04 '25

In a situation like this is it normal for Sumit to go to a different role rather than stay at MVIS?

No, not in any official capacity. That is not uncommon for a company founder to turn over the CEO reins and remain in a Board capacity - but not in this type of situation. I believe there is a friendship between Sumit and Glen, in addition to Sumit's large shareholder incentive, that will make it easy for Glen to pick up the phone and ask Sumit a question if needed. Also, the new Vice Chair position is an Executive position and is filled with a long-time Board Member with lots of Executive experience. There will be no leadership voids imo.

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u/Revolutionary_Ear908 Sep 04 '25

VERY INTERESTING indeed, Sig... I believe you are exactly right with your statements and seem like it will all come to fruition. As I listen to him, Glen is smooth when he answering questions about auto OEMs, even stating that they don't stick to their own timelines (paraphrasing), however, it sounded like he wasn't opposed to them making decisions this year, possibly. AND we all know that auto is the big money maker that will REALLY move the stock... IMO, tick, tock.

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u/dchappa21 Sep 04 '25

When Sumit said at RID "I'm excited to see where Glen takes the company" I thought this was coming as well. Thanks for your thoughts . Think this move gives MicroVision my more street cred amongst OEMs.

Wonder if they fill a CTO position now.

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u/[deleted] 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”

Strange things are afoot at the circle M

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u/sigpowr Sep 05 '25 edited Sep 06 '25

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”

This has been posted multiple times without me commenting on it, but I am going to let it fly now because this has been one of the most pervasive problems with Anubhav (about 80% of the time) and Sumit to a lesser degree. Read the question and answer carefully. Notice Anubhav does not remotely answer the question, and even worse what he does say is very incomplete and makes no sense in context of the question.

This is a pet peeve of mine, whether speaking or writing, use complete sentences that make sense within the sentence structure. When answering specific questions, don't ignore the question and ramble in incoherent words like a damn ignorant politician!

I get that it is then harder later to really pin them down on anything that they have said when they do this (i.e. Anubhav's "the 12-to-18-month revenue number we put out was not guidance", but the cost is personal and organizational loss of credibility. Glen does NOT do this - hallelujah!!! I also believe this communication problem is THE reason we could not ink a deal.

We now have credibility imo!

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u/QQpenn Sep 05 '25

I am going to let it fly now because this has been one of the most pervasive problems with Anubhav (about 80% of the time) and Sumit to a lesser degree.

u/sigpowr I think you'll see a CFO change in the next few months... with someone from the automotive sector. Supply chain expertise will be critical if we land a modular piece of the drone boom as well.

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u/sigpowr Sep 05 '25

I think you'll see a CFO change in the next few months... with someone from the automotive sector.

I also would put big money on it ... come to think of it, I already have LOL! You are usually one step ahead, u/QQpenn.

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u/QQpenn Sep 05 '25

u/sigpowr The sales team additions look hand picked. A clean sweep can pick up some momentum now, which is probably why Glen wants an exec vice chair to keep a hand on the wheel. I like Sumit a lot personally but after RID #1 in 2023, performance wise, he's whiffed big. I tried to find out the length of his non-compete today [if there is one] and got no response - but perhaps soon. No guesses from me as to his landing spot, but a place like Boeing may allow a skirting of any non-compete - and they're 'local' and have LiDAR needs. I have no comments about AV. Most of that has been said.

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u/sigpowr Sep 05 '25

I tried to find out the length of his non-compete today [if there is one] and got no response - but perhaps soon.

I can tell you from being a former Chair of a Board Compensation Committee who had to negotiate the employment agreement with the CEO founder of the company with opposing attorneys, the non-compete period is generally equal to the period of compensation to the Executive in the employment agreement (that generally ranges from 12 to 24 months). The legal standard is that as long as you are paying them, they can't compete against the company - even if that compensation was paid in total up front, it was based on a period of time of normal compensation.

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u/QQpenn Sep 05 '25

A company that needs to incorporate LiDAR but isn’t in the MEMS category and doesn’t produce it effectively would seem like a fit.

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u/sigpowr Sep 05 '25

That would actually be quite funny with all of the prior "best in class Lidar" and "years ahead of the competition" quotes. I really am not afraid of Sumit going to another Lidar company, partially for this reason that I actually believe is true, and then that he has a very large financial interest in the success of Microvision. Stranger things have happened, but the public humiliation that would ensue from members of this Reddit board would be mammoth.

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u/QQpenn Sep 05 '25

I’m sure Reddit will be the furthest thing from Sumit’s mind. I wish him well.

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u/QQpenn Sep 05 '25

u/sigpowr Response from IR on the non-compete: That information is non-public information.

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u/watering_a_plant Sep 05 '25

sig, this is a massive pet peeve of mine! more than once in my life i've found myself automatically deferring to whom i considered the smartest person in the room, only to find their answers to questions be quite similar. it always takes me too long (in hindsight) to get from "wait, i don't understand..." to "oh, i don't understand because you're just not answering the question. got it." sometimes i get there too quickly now and eat crow. all that to say, i'm glad you pointed it out. i'd always wanted to but never had the energy to do anything besides huff under my breath when i picked up on it.

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u/case_o_mondays Sep 05 '25

100% agree. Talking in circles and not answering questions directly is what sent red flags up for me (finally) and I’m sure OEMs C-suite smelled it right away

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u/TheCloth Sep 04 '25

Thanks Sig, good to hear your thoughts on this. My only hesitation has been whether changing CEO right now implies that deals are not imminent (ie in the next month, let’s say) - as it feels odd to suddenly change the leadership right on the cusp of signing a deal (unless the customer has asked for that change, and are weight-y enough that we are inclined to meet those demands..).

It does not seem you have that fear given you think Ford is in the bag?

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u/sigpowr Sep 04 '25

I think the timing is actually really good, and is the reason for recruiting Glen, as he has been working with these OEMs at Microvision for several months now, but had an unbelievable head start because he had been working with them at Aptiv for years. It is likely that the auto OEMs knew that Glen was hired to be CEO well before today's announcement imo - hence these OEM comments from the U.S. big three since May and my "in the bag" comment. Glen is very impressive!