Microvision (MVIS) Announces CFO Transition

October 20, 2021 3:11 PM EDT
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MicroVision, Inc. (NASDAQ: MVIS), a leader in MEMS based solid state automotive lidar and micro-display technology for augmented reality, today announced that Stephen P. Holt, Chief Financial Officer, will be retiring from the Company effective November 15, 2021. Holt, who joined MicroVision in 2013, will remain with the Company as an advisor through the first half of fiscal 2022 to facilitate a smooth transition.

On November 15, 2021, Anubhav Verma will join the Company as Vice President, Chief Financial Officer and Treasurer, overseeing all financial operations at MicroVision. Verma will report to CEO Sumit Sharma.

"On behalf of MicroVision and our Board, I would like to thank Steve for his many contributions over the past eight years," said Sumit Sharma, MicroVision's Chief Executive Officer. "He has been a valuable member of our executive team and steadfast leader of our finance organization, helping us navigate many challenges over the years and significantly strengthening our balance sheet over the past twelve months."

"Anubhav is a talented and energetic leader with strong experience as a finance executive and investment banker," Sharma continued. "Anubhav will bring perspective and experience that will be invaluable to MicroVision as we continue to execute on our strategy and accelerate growth. We are thrilled to have him join our team."

"I am delighted to join MicroVision and look forward to working as part of the leadership team to help accelerate the Company's growth and create value for its stakeholders," said Verma.

Verma is a seasoned finance professional having most recently served as Senior Vice President, Finance at Exela Technologies, where he led significant growth initiatives and acquisitions. Prior to that, he spent nearly eight years as an investment professional, with significant involvement in a wide variety of capital market and M&A transactions.

"I have very much enjoyed working with the outstanding people at MicroVision, and I have especially enjoyed my working relationship with Sumit. I have the utmost confidence in the Company and the team at MicroVision," said Holt. "As we near the completion of our long-range lidar development, and given the Company's strong balance sheet, this is an excellent time to make this transition."

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