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ROCHESTER, N.Y. - Vuzix Corporation (NASDAQ:VUZI), a supplier of smart glasses and augmented reality technologies with a market capitalization of $174 million, announced Thursday the appointment of Alasdair J. MacKinnon to its Board of Directors. The announcement comes as the company’s stock has shown strong momentum, gaining ~13% in the past week, according to InvestingPro data.
MacKinnon, currently Managing Director at Acclarity, brings over 30 years of international finance and audit experience across the U.S. and Europe. He will assume the role of Chairperson of the Audit Committee, taking over responsibilities previously held by Edward W. Kay, Jr., who passed away in July 2025. Kay had served on Vuzix’s board since April 2016. The appointment comes at a crucial time, with the company’s next earnings report scheduled for August 14, as noted in InvestingPro’s financial calendar.
The new director’s background includes positions as Vice President of Internal Audit at Home Properties and audit management roles at Google, where he oversaw global teams handling high-risk areas including payroll, procurement, and tax. Earlier in his career, MacKinnon worked at Global Crossing and in external audit with Arthur Andersen and PricewaterhouseCoopers in both the U.S. and UK.
MacKinnon is a Chartered Accountant (Scotland) and Certified Internal Auditor with a Bachelor of Accountancy from the University of Glasgow.
"We are honored to welcome Alasdair J. MacKinnon to the board," said Paul Travers, President and CEO of Vuzix, in the company’s press release. Travers also acknowledged Kay’s contributions, noting his "wisdom, integrity, and unwavering dedication."
Vuzix develops and manufactures AI-powered smart glasses, waveguides, and augmented reality technologies for enterprise, medical, defense, and consumer markets. While the company maintains a strong liquidity position with a current ratio of 7.68 and more cash than debt on its balance sheet, InvestingPro analysis indicates a weak overall financial health score. Investors seeking deeper insights can access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers, which provides detailed analysis of Vuzix’s financial position and growth prospects among 1,400+ top stocks.
In other recent news, Vuzix Corporation has reported several significant developments. The company announced it received and shipped a six-figure order for its M400 smart glasses from LogistiVIEW, a move that supports the expanding use of these devices within a Fortune 100 retail company for warehouse operations. Additionally, Vuzix has received multiple follow-on orders for its Z100 smart glasses from TranscribeGlass, which is responding to increased demand for its AI-powered transcription services. In another update, Vuzix has been added to the Russell 3000 Index, which enhances its market visibility and includes it in the small-cap Russell 2000 Index. Furthermore, Vuzix has partnered with Sphere Technology Holdings to integrate Sphere’s mixed reality platform with Vuzix M400 and M4000 smart glasses, offering advanced features for workplace environments. These recent developments highlight the company’s ongoing efforts to expand its market presence and technological capabilities.
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