WiTricity Appoints Alex Gruzen as CEO

Wireless Power Pioneer Poised for Significant Commercial Momentum Across Global Industries

WATERTOWN, Mass.--()--WiTricity, the industry pioneer in wireless power transfer over distance, today announced that it has named Alex Gruzen as CEO. Gruzen succeeds Eric Giler who, in his five-plus year term as CEO, successfully established WiTricity's business foundation and commercial capabilities. Giler will continue in his capacity as a member of the WiTricity Board of Directors.

Gruzen, 51, has more than 20 years of leadership experience in Fortune 50 companies and a proven track record of profitably growing businesses in dynamic, highly competitive global markets. In this pivotal role, Gruzen will work closely with the organization's dedicated sales and engineering teams to accelerate the commercial adoption of WiTricity's groundbreaking wireless power transfer technology.

Serving in senior management roles at Dell, HP, Compaq and Sony, Gruzen brings a unique perspective on the process major corporations undergo when seeking and implementing innovative new technologies. With wireless power implementation continuing to be a focus for major brands in consumer and medical devices, military technology, and industrial and automotive applications, Gruzen's expertise will accelerate WiTricity's efforts to rapidly expand its portfolio of corporate licensees.

"With a focus on the customer experience, I’ve been able to accelerate business growth throughout my career," said Gruzen. "WiTricity's disruptive innovation and talented team, combined with the company's recent traction and the huge market potential for wireless power, represents a winning combination and a big opportunity. I am thrilled to be joining the team, and I look forward to leveraging my experience to help take this great company to its next stage of growth."

Gruzen joins WiTricity at a time of explosive growth, with the organization cash flow positive and recently closing a $25 million Series E funding round from major global powerhouses including Intel and FoxConn/Hon Hai. With an expanding list of licensees including MediaTek, Toyota, Thoratec, Delphi and IHI, and having recently assumed a seat on the Alliance for Wireless Power (A4WP) Board, the company is poised for continued success in 2014.

"It's been an incredible experience watching WiTricity grow over the past five and a half years - what started as a science experiment at MIT has turned into a deeply funded, established business with a mature R&D team and an impressive licensee list," said Giler, board member, WiTricity. "There is tremendous demand across industries to bring wireless power to market rapidly and WiTricity is the catalyst to make that happen. Alex's experience working with large technology companies and global supply chains will be a strong asset as the company continues to widen its foothold as the leader of wireless power transfer over distance."

Most recently, Gruzen co-founded Texas-based Corsa Ventures, where he focused on building leading technology companies via early-stage investments and was deeply involved in the Austin startup community. Prior to Corsa Ventures, Gruzen was the senior vice president of the consumer and small medium business product group at Dell, and previously led the company's global notebook business. His experience spans product development, global sales and marketing, operations and growth through mergers and acquisitions.

Gruzen received his MBA from Harvard Business School following his time at Massachusetts Institute of Technology (MIT) where he earned both a M.S. and B.S. in Aeronautical and Astronautical Engineering.

About WiTricity

WiTricity Corporation is enabling a wirelessly powered world by providing the foundational technology necessary for organizations to bring wireless power solutions to market faster. The company was founded in 2007 to commercialize an exciting new technology called "WiTricity," which enables wireless power over distance using magnetic resonance. Through deep domain expertise, a strong IP portfolio and an extensive reference design library, WiTricity Corporation provides end-to-end technology transfer for companies who want to incorporate WiTricity in their products. With a growing list of global licensees in industries including consumer electronics, automotive, medical devices and defense, the company has emerged as the leader in wireless power using magnetic resonance. For more information, visit www.witricity.com, or follow WiTricity on FacebookTwitterLinkedIn, Google+ and YouTube.

Contacts

Version 2.0 Communications for WiTricity
Jean Serra/Katie Kennedy, 617-426-2222
witricity@v2comms.com

Release Summary

WiTricity, the industry pioneer in wireless power transfer over distance, today announced that it has named Alex Gruzen as CEO.

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Contacts

Version 2.0 Communications for WiTricity
Jean Serra/Katie Kennedy, 617-426-2222
witricity@v2comms.com