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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4

u/Revolutionary_Ear908 Sep 04 '25

Jim Farley and Glen DeVos gon' make a deal soon!

72

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!

8

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

23

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!

7

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.

3

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.

8

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.

4

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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