Ocular LCD Appoints Phil Spivey President and Chief Executive Officer
Company Co-Founder Ben Kwong Retires, Remains on Company's Board of Directors
RICHARDSON, TEXAS March 16, 2009 Ocular LCD, Inc., a leading designer, manufacturer and marketer of high-performance liquid crystal displays, modules and systems, today announced the appointment of Phil Spivey as the companys President and Chief Executive Officer, effective immediately. Mr. Spivey succeeds Ben Kwong, Co-Founder of Ocular, who is retiring from his role as President and CEO, while retaining his seat on Oculars Board of Directors.
Mr. Spivey is an eighteen-year veteran of Motorola Inc., where he held a number of senior operating positions across Motorola Embedded Communications (ECC), a leading provider of embedded computing products and services to communication infrastructure and equipment manufacturers in telecommunications, medical imaging, defense and aerospace and industrial automation. In his most recent role at Motorola ECC, Mr. Spivey served as Vice President, Global Supply Chain and previously served in senior sales and operations positions in Europe, Asia and the United States. Mr. Spivey was a key member of the executive team that executed the sale of ECC to Emerson Electric Co., and led the integration of the business into Emersons manufacturing organization.
Most recently, Mr. Spivey served as Chief Executive Officer of XI Electronics, a philanthropic start-up technology recovery, refurbishing and remarketing enterprise, where he spearheaded the companys growth by arranging agreements to process 150,000 used computer systems a year, and created the organizational and sales infrastructure to support this business expansion.
Thomas O. Hicks, Chairman and CEO of Hicks Holdings, LLC, which holds a majority equity stake in Ocular, as well as Chairman of the Board of Ocular, said, We are very pleased to welcome Phil Spivey as Oculars new Chief Executive Officer. Phil is a seasoned technology industry senior executive with a strong background in sales, operations, engineering, and strategy. He has a proven track record of bringing well-run organizations forward to the next stage of expansion, and we are excited about Oculars future under his leadership.
We thank Ben Kwong for his entrepreneurial leadership of Ocular, from the companys infancy until now. Ben leaves Ocular well-positioned for the future, and he has our gratitude for his many years of service to the company.
Mr. Spivey said, I am delighted to join Ocular, a recognized industry leader in its space, with a deep and talented management team, strong employee base and continued bright growth prospects. Based on my global operational experiences across a broad range of roles over the past two decades, I believe that there are multiple opportunities to build on the companys strong foundation. I look forward to working closely with the companys senior management team and Board of Directors to capitalize on these opportunities, and to continue to fulfill the vast potential of this company.
Mr. Kwong said, It is with great pleasure that we welcome a talented executive with strong leadership credentials to the helm of Ocular. Having worked hard to build the necessary critical mass for our company from its founding until now, I believe that Ocular will be in excellent hands with Phil Spivey. We will effect a smooth and seamless transition, and I look forward to continuing to assist the company through my Board membership.
About Ocular LCD
Founded in 1986, Ocular LCD designs, manufactures and markets high-performance passive and active liquid crystal displays (LCDs), which it sells in panels, modules and complete systems (box builds) to more than 150, largely Tier One customers in a variety of industries, including industrial controls, medical devices, recreational and fitness equipment, retail/POS equipment, office automation equipment, communications hardware and consumer electronics. Headquartered in Richardson, Texas, Oculars main manufacturing facility is in Guangdong Province in China.
About Hicks Holdings, LLC
Hicks Holdings, LLC, is a Dallas-based, family-owned private investment enterprise headed by Thomas O. Hicks. In addition to its majority equity ownership of Ocular LCD, Hicks Holdings has ownership stakes in Anvita Health, an emerging leader in clinical decision support systems; Latrobe Specialty Steel Company, a leading producer and distributor of specialty steel alloys; and DirecPath, a company jointly formed by Hicks Holdings and DIRECTV to provide bundled DIRECTV programming, broadband voice and data services, security and other locally based services to multiple-dwelling-unit residences (MDUs) across the United States. In addition to its private equity investments, Hicks Holdings assets include a number of sports and real estate assets, including majority ownership interest in the Texas Rangers and Dallas Stars, as well as a 50 percent ownership interest in the Liverpool Football League of the English Premier League; and a 50 percent ownership interest in the American Airlines Center. Additionally, Hicks Holdings specializes in urban mixed-use developments and high-end hospitality and residential projects and, through Hicks Trans American Partners, selectively makes corporate and real estate investments in South America.