NEW YORK, Dec. 15, 2014 /PRNewswire/ -- GlassesOff Inc. (OTCBB: GLSO) announced today the appointment of Mr. Yuval Bar-Gil as an independent director of the Company’s Board of Directors.
Mr. Bar-Gil was founder of AeroScout and served as its CEO until its acquisition by Stanley Black & Decker in 2012, a $240 million transaction. Recognized as the inventor of the first Wi-Fi-based Active RFID tag, under Mr. Bar-Gil’s leadership, AeroScout provided Wi-Fi -based RFID solutions focused on improving operational efficiency, safety and security, predominantly in hospitals and manufacturing environments, to leading hospitals and many Fortune 500 corporations.
Prior to founding AeroScout, Mr. Bar-Gil was a consultant at Bain & Company (London and San Francisco). At Bain, he advised LBO funds on investments in a variety of industries and developed business strategies for market leaders in several high technology industries.
Mr. Bar-Gil holds bachelor’s degrees with honors in Accounting and Law from Tel Aviv University and an M.B.A. from The Wharton School, University of Pennsylvania.
“We are delighted to have Mr. Bar-Gil join our Board,” commented Nimrod Madar, CEO of GlassesOff. “We expect that his proven track record in creating shareholder value, business knowledge and experience will assist us in implementing our strategic and execution plan more effectively.”
“I look forward to working with the GlassesOff team and to helping realize the Company’s considerable potential. I believe that the Company is an innovator in a field that may impact the quality of life and athletic skills of millions of people around the world, and I am excited to be part of the leadership team,” said Mr. Bar-Gil.
In conjunction with Mr. Bar-Gil’s appointment to the Company’s Board of Directors, Mr. Sasson Darwish, who has served as a director since November 3, 2013 will depart from the Board effective December 15, 2014.
About GlassesOff
GlassesOff Inc., www.glassesoff.com, (OTCBB:GLSO) is a public neuroscience technology company, utilizing patented technology to develop and commercialize consumer-oriented software applications. The Company is developing and commercializing next generation vision sharpness applications. GlassesOff has developed a proprietary, patent protected neuroscience technology platform to improve near vision sharpness through brain exercise, by improving the image processing function in the visual cortex of the brain. The GlassesOff product aims to eliminate the dependency on reading glasses of people of the age of 40 and older who experience the inevitable age-related changes in their near vision sharpness. The GlassesOff app was named one of the top Emerging Breakthroughs in Science and Technology for 2013 by Reader’s Digest Magazine.
Safe Harbor Statement: This press release contains forward-looking statements, which may be identified by words such as “expects,” “plans,” “projects,” “will,” “may,” “anticipates,” “believes,” “should,” “would,” “intends,” “estimates,” “suggests,” “has the potential to” and other words and phrases of similar meaning, including statements regarding the results of effectiveness of GLASSESOFF’s applications. Investors are cautioned that forward-looking statements involve risks and uncertainties that may affect GLASSESOFF’s business and prospects, including the risks that GLASSESOFF may not succeed in generating any revenues or developing any commercial products, that the products may not achieve the expected results or effectiveness, and other risks and uncertainties that may cause results to differ materially from those set forth in the forward-looking statements. In addition to the risk factors described above, investors should consider the economic, competitive, governmental, technological and other factors discussed in GLASSESOFF’s filings with the Securities and Exchange Commission. The forward-looking statements contained in this press release speak only as of the date the statements were made, and we do not undertake any obligation to update forward-looking statements, except as required under applicable law.
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SOURCE GlassesOff Inc.
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