Lightwave Logic Hires New CEO
Jim Marcelli Brings Over Thirty Years of Business Development Experience in the High-Tech Electronics Industry
WILMINGTON, Del., Aug 06, 2008 /PRNewswire-FirstCall via COMTEX/ -- Lightwave Logic, Inc. (OTC Bulletin Board: LWLG; lightwavelogic.com), a technology company focused on the development of electro-optic polymer materials for applications in high-speed fiber-optic telecommunications and optical computing, has appointed Jim Marcelli Chief Executive Officer. Mr. Marcelli has over thirty years experience in the high tech electronics industry and has spent most of those years involved in start-up and growth companies. Lightwave's present Chief Executive Officer, Hal Bennett, is stepping down in order to pursue other business opportunities.
Effective immediately, Mr. Marcelli will begin assembling a core management team whose primary focus will be to continue development and eventual commercialization of Lightwave's innovative electro-optic polymer materials.
Mr. Marcelli's broad background encompasses several senior sales, marketing and other top management positions with start-up, growth, and Fortune 500 companies including: Teradyne Corporation and Sanmina Corporation, among others. Mr. Marcelli has held the position of President and CEO with several start-up and growth companies, where he was directly responsible for building strong management teams and developing markets and product offerings. His assistance and expertise allowed many companies to graduate from the development stage to the operational stage.
"Mr. Marcelli's successful management in the high-tech field affords him invaluable insight in developing and implementing core operational efficiencies that should prove very useful at Lightwave Logic," said Bim Pickett, Lightwave Board Member. "He is the right man, with the right experience and foresight to continue the growth of our company."
"I am delighted to join the team at Lightwave Logic, and to be a part of the company's innovative material breakthroughs," said Mr. Marcelli. "Having worked in the high tech industry for over thirty years, it is clear to me that Lightwave's new materials could represent a dramatic, perhaps even paradigm- shifting, breakthrough which could facilitate the advancement of entirely new generations of optical devices."
About Lightwave Logic, Inc.
Lightwave Logic, Inc. is a development stage company, moving toward prototype demonstration and commercialization of its high-activity, high- stability organic polymers for applications in electro-optical device markets. Electro-optical devices convert data from electric signals into optical signals for use in high-speed fiber-optic telecommunications systems and optical computers. Lightwave Logic, Inc. is a portfolio company of Universal Capital Management, Inc. (OTC Bulletin Board: UCMT). Please visit the Company's website, www.lightwavelogic.com, for more information.
Safe Harbor Statement
The information posted in this release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by use of the words "may," "will," "should," "plans," "explores," "expects," "anticipates," "continue," "estimate," "project," "intend," and similar expressions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing various engineering and manufacturing programs, changes in customer order patterns, changes in product mix, continued success in technological advances and delivering technological innovations, shortages in components, production delays due to performance quality issues with outsourced components, and various other factors beyond the Company's control.
SOURCE Lightwave Logic, Inc.
URL: lightwavelogic.com
www.prnewswire.com
Copyright (C) 2008 PR Newswire. All rights reserved
-0- |
