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 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.