Vuzix Announces New Board Member

Rhea-AI Summary

Vuzix (NASDAQ: VUZI), a leading supplier of AI-powered Smart glasses and AR technologies, has appointed Alasdair J. MacKinnon to its Board of Directors. MacKinnon, currently Managing Director at Acclarity, brings over three decades of international finance and audit experience across the U.S. and Europe.

MacKinnon will serve as the new Chairperson of the Audit Committee, taking over the responsibilities of Edward W. Kay, Jr., who passed away in July 2025. His extensive background includes leadership roles at Google, Home Properties, Global Crossing, Arthur Andersen, and PricewaterhouseCoopers, with expertise in SOX initiatives, regulatory compliance, and operational audits.

Positive

• Appointment of highly experienced finance and audit executive with over 30 years of international experience
• New board member brings significant expertise in SOX compliance, regulatory matters, and operational audits
• MacKinnon's background includes leadership positions at major companies like Google and PwC

Negative

• Sudden loss of long-serving board member and Audit Committee Chairperson Edward W. Kay

News Market Reaction

-7.89%

21 alerts

-7.89% News Effect

+2.3% Peak Tracked

-5.6% Trough Tracked

-$14M Valuation Impact

$166M Market Cap

1.2x Rel. Volume

On the day this news was published, VUZI declined 7.89%, reflecting a notable negative market reaction. Argus tracked a peak move of +2.3% during that session. Argus tracked a trough of -5.6% from its starting point during tracking. Our momentum scanner triggered 21 alerts that day, indicating elevated trading interest and price volatility. This price movement removed approximately $14M from the company's valuation, bringing the market cap to $166M at that time.

Data tracked by StockTitan Argus on the day of publication.

ROCHESTER, N.Y., Aug. 7, 2025 /PRNewswire/ -- Vuzix® Corporation (NASDAQ: VUZI), ("Vuzix" or, the "Company"), a leading supplier of AI-powered Smart glasses, waveguides and Augmented Reality (AR) technologies, is pleased to announce that Alasdair J. MacKinnon has joined its Board of Directors.

Alasdair J. MacKinnon is a seasoned finance and audit executive with over three decades of international experience across the U.S. and Europe. Currently Managing Director at Acclarity, MacKinnon has led transformative Sarbanes-Oxley (SOX) initiatives, regulatory compliance redesigns, and operational audits for a diverse range of organizations—including public companies, higher education institutions, and major distributors. Previously, MacKinnon served as Vice President of Internal Audit at Home Properties, where he enhanced data analytics in audit processes, advised on IT and risk initiatives, and contributed to strategic decision-making across multiple committees. During his tenure at Google, he managed global internal audit teams in high-risk areas such as payroll, procurement, and tax, designing controls that significantly reduced compliance risk and improved operational efficiency.

Earlier in his career, MacKinnon held leadership roles at Global Crossing and worked extensively in external audit with Arthur Andersen and PricewaterhouseCoopers in both the U.S. and the UK. A Chartered Accountant (Scotland) and Certified Internal Auditor, he is widely regarded for his collaborative leadership style, mentorship, and ability to drive sustainable improvements in financial governance. MacKinnon holds a Bachelor of Accountancy from the University of Glasgow. His career reflects a steadfast commitment to integrity, innovation, and continuous learning. 

Finally, Mr. Edward W Kay, Jr., a member of Vuzix Corporation's Board of Directors since April 2016, passed away suddenly in July 2025.  Mr. MacKinnon will be taking over Mr. Kay's responsibilities on the board including the role of Chairperson of the Audit Committee.

"We are honored to welcome Alasdair J. MacKinnon to the board. His extensive international experience in finance, internal audit, and corporate governance brings invaluable insight and leadership at a time of continued growth and change. Alasdair's collaborative approach and proven track record of driving meaningful improvements will be a tremendous asset to our organization," said Paul Travers, President and CEO of Vuzix. "At the same time, we mourn the loss of our dear friend and colleague, Ed Kay. Ed's wisdom, integrity, and unwavering dedication to our mission left a lasting impact on everyone who had the privilege to work with him. He will be deeply missed, and we remain committed to honoring his legacy through our ongoing work."

 About Vuzix Corporation

Vuzix is a leading designer, manufacturer and marketer of AI-powered Smart Glasses, Waveguides and Augmented Reality (AR) technologies, components and products for the enterprise, medical, defense and consumer markets. The Company's products include head-mounted smart personal display and wearable computing devices that offer users a portable high-quality viewing experience, provide solutions for mobility, wearable displays and augmented reality, as well OEM waveguide optical components and display engines. Vuzix holds more than 450 patents and patents pending and numerous IP licenses in the fields of optics, head-mounted displays, and the augmented reality wearables field. The Company has won Consumer Electronics Show (or CES) awards for innovation for the years 2005 to 2024 and several wireless technology innovation awards among others. Founded in 1997, Vuzix is a public company (NASDAQ: VUZI) with offices in: Rochester, NY; and Kyoto and Okayama, Japan.  For more information, visit the Vuzix website, Twitter and Facebook pages.

Vuzix Media and Investor Relations Contact:

Ed McGregor, Director of Investor Relations,
Vuzix Corporation
ed_mcgregor@vuzix.com  
Tel: (585) 359-5985

Vuzix Corporation, 25 Hendrix Road, West Henrietta, NY 14586 USA,
Investor Information – IR@vuzix.com  www.vuzix.com

 

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SOURCE Vuzix Corporation

FAQ

Who is the new Vuzix (VUZI) board member appointed in August 2025?

Alasdair J. MacKinnon, a seasoned finance and audit executive with over three decades of international experience, was appointed to Vuzix's Board of Directors.

What positions will Alasdair MacKinnon hold at Vuzix (VUZI)?

MacKinnon will serve as a Board Member and take over as the Chairperson of the Audit Committee, assuming the responsibilities previously held by Edward W. Kay, Jr.

What is Alasdair MacKinnon's professional background?

MacKinnon is currently Managing Director at Acclarity and has held leadership positions at Google, Home Properties, Global Crossing, Arthur Andersen, and PricewaterhouseCoopers. He specializes in SOX initiatives, regulatory compliance, and operational audits.

Why did Vuzix (VUZI) need to appoint a new board member?

The appointment follows the sudden passing of Edward W. Kay, Jr. in July 2025, who had served on Vuzix's Board of Directors since April 2016.