Dr. Davor Sutija has been promoted to CEO of Thin Film Electronics ASA ("Thinfilm"). He takes over from Rolf Åberg, who continues in an executive board position.
"Davor is a technologist with business acumen. Since graduating from Wharton and Berkeley, he has a proven track record in business development and bringing innovative products to market," says Morten Opstad, Chairman of the Board.
Davor Sutija joined Thinfilm in January 2010 as Executive Vice President with responsibility for business development and marketing. Previously, he worked for Microsoft and FAST, where he was Senior Vice President for Product Marketing. Sutija also has general management experience from Renewable Energy Corporation ASA (REC).
Rolf Åberg has been acting CEO since last summer and a member of the Thinfilm Board of Directors since 2006. "The board has been looking for the right person to take Thinfilm to the next level and commercialize our memory products. Now we have found him," says Rolf Åberg.
"With Rolf at the helm, we have made great progress. As we now ramp up our go-to-market activities, I am very pleased that he will continue as an executive board member supporting these activities," Opstad continues.
Thinfilm is the first in the world to produce polymer memories in large scale using roll-to-roll printing.
"My main task is the successful commercialisation of Thinfilm technology. We have a unique and proven technology, we are ready for volume production, and we have a product with excellent commercial prospects. We experience strong interest both in the Printed Electronics market in general, as well as in specific markets such as toys and games," says Davor Sutija.
While concentrating on toys and games applications, Thinfilm is also pursuing the next generation of Printed Electronics products, combining Thinfilm's printed memory with other printed technologies, such as transistors, sensors, and displays. "Printed Electronics is a disruptive technology where Thinfilm Memory costing a few cents will empower numerous new applications and open many new markets. Our 'Memory Everywhere' vision reflects this market outlook," Sutija continues.
The Printed Electronics market is still in its early stages, and according to industry analyst group IDTechEx, is expected to grow to more than USD 50 billion in market value over the next ten years. IDTechEx predicts that logic (i.e., memory and transistors) will be the largest segment in this market, representing more than 30 per cent of the total.
About Davor Sutija
Dr. Davor Sutija is a graduate of Wharton's Jerome Fisher Management and Technology program, and has a PhD from the University of California at Berkeley, where he developed novel microsensors. Sutija was at the Senter for Materialteknologi (Centre for materials technology) at the University of Oslo, before becoming CEO at SiNOR AS (now REC-SiTech) in Glomfjord, and was at FAST since 2003. Davor has also served on the boards of Norwegian technology firms SensoNor, Birdstep, and Owera.
About Thinfilm
Thin Film Electronics ASA ("Thinfilm") is a Norwegian technology company with head office in Oslo and product development activities in Linköping, Sweden. The company is a pioneer in the use of functional polymer materials for the production of non-volatile electronic memories, and has developed polymer memories with high storage density. Thinfilm is the first in the world able to deliver rewritable memories printed on a commercial scale in a continuous roll-to-roll process. Jointly with its global partners, one expects in the future to also be able to deliver integrated devices containing printed logic elements, enabling the company's vision of "Memory Everywhere(TM)". Thinfilm is listed on the Oslo Axess marketplace at the Oslo Børs (Oslo Stock Exchange) with ticker code THIN.
Oslo Axess: http://www.osloaxess.no/markedsaktivitet/stockOverview?newt__ticker=THIN
Thinfilm's website: http://www.thinfilm.no.
A video of the memory printing process: http://www.thinfilm.se/index.php/aboutus/technology-overview
For further information, please contact:
Morten Opstad, Chairman of the board: + 47 91 86 77 37, mop (at) raeder.no
Geir Harald Aase, VP Communications and Investor Relations: +47 480 37 571, geir.aase (at) thinfilm.no