Lightwave Logic Reshuffles Leadership to Accelerate AI-Focused Electro-Optic Technology Commercialization

Lightwave Logic to Focus on Execution of its Strategic Plan Under Refreshed Leadership Team; Appoints Yves LeMaitre as CEO and Thomas E. Zelibor as President - Lightwave Logic (NASDAQ:LWLG)

New Management Team to Expedite Product Commercialization, Pursue New Applications for Proprietary Polymer Materials, and Seize Growth Opportunities Presented by AI ENGLEWOOD, Colo., Dec. 11, 2024 /PRNewswire/ -- Lightwave Logic, Inc. LWLG announced today that it is strengthening the Company's management team to reinforce its competitive position and accelerate product and commercial strategic initiatives. The Company remains focused on creating value for all stakeholders by capitalizing on high-growth opportunities across the AI and datacenter networking sector, expediting commercialization for its proprietary electro-optic materials, and opening new markets and applications for its advanced polymer-based solutions. To provide leadership for this new stage of the company's growth, the Board of Directors of Lightwave Logic has named optical communications industry veteran Yves LeMaitre as Chief Executive Officer and former CEO and Chairman Thomas E. Zelibor as President of the Company. The Board has appointed Ronald Bucchi, current lead independent director, as its new non-executive independent Chairman. James S. Marcelli serves as Chief Financial Officer and Chief Operating Officer. Dr. Michael Lebby has retired as Chairman and Chief Executive Officer of Lightwave Logic, effective December 10, 2024. Ron Bucchi, Chairman of the Board, said: "We are committed to taking the necessary steps for our business to continue to evolve and grow. The Board is grateful for all Michael Lebby has accomplished in positioning Lightwave Logic's best-in-class organic polymer materials at the forefront of next generation photonics and high-speed interconnects. As we advance our commercialization efforts to achieve the Company's operational and financial goals and increase shareholder value, the Board and Michael agreed that the time is right for new leadership with the experience and business acumen commensurate with this new phase of our company. We appreciate Michael's support to facilitate an orderly transition in the coming months and wish him success in his future endeavors." Mr. Bucchi added: "We are delighted that Yves LeMaitre is joining and Tom Zelibor is rejoining the management team, with the focus, rigor, and excellence they bring to their roles. Yves is a member of the Board, and a well-regarded business and optical communications executive with extensive global technology and customer experience. He will be instrumental in expanding the Company's presence into multiple verticals and establishing the necessary commercial and strategic partnerships across a range of industries. "As our former CEO and Chairman, Tom knows Lightwave Logic's teams and shareholder base well. With his proven track record of operational transformation and excellence, he is the ideal person to step into this role and drive the changes we need," concluded Mr. Bucchi. Mr. LeMaitre said, "I am excited to have the opportunity to lead this organization at such a time of change and opportunity. Lightwave Logic is uniquely positioned to become a critical supplier of solutions for the generative AI market. We believe the disruptive performance benefits of our materials can enable the fast and energy-efficient scaling of AI back-end and datacenter front-end networks. Our team also will continue to prioritize relationships with Tier One customers for licensing and selling our polymer modulators." For Mr. LeMaitre's full bio, please visit https://www.lightwavelogic.com/leadership/board-of-directors/executive-team/. Rear Admiral USN (Ret.) Zelibor commented, "I look forward to being back on-site in Denver with the team. My priorities will be commercializing our world-class polymer platform, realigning and streamlining our R&D focus, and, along with our talented team, managing costs to improve our competitiveness and financial performance while we make the operational shifts needed to position our company for long-term success." For Rear Admiral USN (Ret.) Zelibor's full bio, please visit https://www.lightwavelogic.com/leadership/board-of-directors/executive-team/. The Company intends to provide updates as the management team establishes themselves in their roles. In addition, Lightwave Logic has engaged Alpha IR Group, the U.S.-focused investor relations advisor, which will be supporting communication and information for shareholders. About Lightwave Logic, Inc. Lightwave Logic, Inc. LWLG www.lightwavelogic.com is a technology platform company leveraging its proprietary engineered electro-optic (EO) polymers to transmit data at higher speeds with less power in a small form factor. The Company's high activity and high stability organic polymers allow it to create next-generation photonic EO devices that convert data from electrical signals into light/optical signals for applications in telecommunications, and for data transmission potentially used to support generative AI. 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, lack of available funding; general economic and business conditions; competition from third parties; intellectual property rights of third parties; regulatory constraints; changes in technology and methods of marketing; delays in completing various engineering and manufacturing programs; changes in customer order patterns; changes in product mix; success in technological advances and delivering technological innovations; shortages in components; production delays due to performance quality issues with outsourced components; those events and factors described by us in Item 1.A "Risk Factors" in our most recent Form 10-K and 10-Q; other risks to which our company is subject; other factors beyond the company's control. Contacts: Ryan Coleman or Nick Teves Alpha IR Group for Lightwave Logic [email protected] 312-445-2870 View original content to download multimedia:https://www.prnewswire.com/news-releases/lightwave-logic-to-focus-on-execution-of-its-strategic-plan-under-refreshed-leadership-team-appoints-yves-lemaitre-as-ceo-and-thomas-e-zelibor-as-president-302328660.html SOURCE Lightwave Logic, Inc. Market News and Data brought to you by Benzinga APIs

Lightwave Logic appoints new CEO and President By Investing.com

ENGLEWOOD, Colo. - Lightwave Logic, Inc. (NASDAQ:LWLG), a developer of proprietary electro-optic materials with a market capitalization of $324 million, has announced a strategic update to its management team, with appointments aimed at strengthening the company's position in the AI and datacenter networking sector. The announcement comes as the company's stock has experienced significant volatility, declining nearly 47% year-to-date according to InvestingPro data. Yves LeMaitre has been named Chief Executive Officer, while Thomas E. Zelibor will serve as President. The changes, effective December 10, 2024, come as the company prepares to expedite the commercialization of its advanced polymer-based solutions and explore new market opportunities. Ron Bucchi, who has been appointed as the new non-executive independent Chairman of the Board, expressed confidence in the new leadership's ability to grow the business and enhance shareholder value. He also acknowledged the contributions of the outgoing Chairman and CEO, Dr. Michael Lebby, in advancing Lightwave Logic's materials technology. LeMaitre, a board member and seasoned executive in the optical communications industry, is expected to drive the expansion into multiple verticals and establish strategic partnerships. Zelibor, returning to an executive role, will focus on commercializing the company's polymer platform and improving financial performance through operational changes. InvestingPro data shows the company maintains impressive gross profit margins of 92% and a strong liquidity position with a current ratio of 24.48, providing a solid foundation for the new management team. Lightwave Logic's technology involves high-performance organic polymers designed for converting electrical signals into light/optical signals, which is critical for telecommunications and data transmission in AI applications. The company has expressed a belief in the disruptive potential of its materials to facilitate the rapid and energy-efficient scaling of AI networks. As the management team settles into their new roles, Lightwave Logic plans to provide updates and has engaged Alpha IR Group to support shareholder communication. The company's forward-looking statements are subject to various risks and uncertainties, which could affect actual results and are detailed in their regulatory filings. Want deeper insights into Lightwave Logic's valuation and growth potential? InvestingPro subscribers have access to over 10 additional exclusive ProTips and comprehensive financial metrics to make more informed investment decisions. This article is based on a press release statement from Lightwave Logic, Inc. In other recent news, Lightwave Logic has made significant advancements in its operations. The company highlighted its participation in the 2024 European Conference on Optical Communications (ECOC), where it showcased a collaboration with Polariton Technologies. The partnership resulted in a packaged electro-optic polymer modulator that integrates Lightwave's Perkinamine™ Chromophores with Polariton's plasmonic modulator design, reaching performance levels up to 400 Gbps. Additionally, the company announced the appointment of two new board members, Thomas M. Connelly, Jr., former CEO of the American Chemical Society, and Yves LeMaitre, both bringing extensive experience in technology and corporate strategy. Lightwave Logic also reported a change in its independent registered public accounting firm, with the Audit Committee appointing Stephano Slack LLC. On the financial front, Lightwave Logic reported having $27 million in cash and equivalents as of September 30, 2024, and expects these funds to support operations through February 2026. As for revenue generation, the company is actively engaging with tier-1 companies for potential licensing, technology transfer, and material sales. Finally, on the technological front, Lightwave Logic achieved a record-breaking low drive voltage below 1V at 200Gbps PAM4 in collaboration with Advanced Micro Foundry. These are the recent developments from Lightwave Logic.