COLOR KINETICS UNVEILS BOARD OF ADVISORS
Business and academic leaders to provide strategic direction in support of
Color Kinetics' commitment to solid-state lighting market growth and innovation
Boston, MA — March 6, 2003 — Color Kinetics Incorporated, the pioneer of intelligent, LED-based illumination technologies, today announced the charter members of its newly formed Board of Advisors. The Board is comprised of industry and academic leaders whose broad knowledge and experience will help Color Kinetics achieve continued success in the fast growing market for solid-state illumination — a disruptive technology that's increasingly shaping the future of the $40 billion global lighting industry.
The charter members announced today are:
- Michael Ahearn
Managing Director, Conley and Company
- Clayton Christensen
Robert and Jane Cizik Professor of Business Administration, Harvard Business School (academic focus: Technology and Operations Management)
- John Cronin
Chairman and CEO, ipCapital Group, Inc.
- Das Narayandas
Associate Professor, Harvard Business School (academic focus: Business Marketing)
- Jeffry Timmons
Professor, The Arthur M. Blank Center for Entrepreneurship at Babson College (academic focus: Entrepreneurship)
- Richard Vitkus
Former Senior Vice President and General Counsel, Zenith Electronics Corporation
"We're thrilled to extend the bench strength of Color Kinetics' management team, distinguished Board of Directors, and rock-solid group of investors with the diverse talents of our new Board of Advisors," said George Mueller, Chairman and CEO, Color Kinetics. "Our ability to attract this world-class group of business and technology leaders is testament to Color Kinetics' role in advancing the growth and adoption of solid-state illumination technologies. We look forward to tapping their collective insight and experience to help advance and strengthen our intellectual property efforts, uncover new market opportunities, and develop strategic partnerships."
About the Members
Michael Ahearn is Managing Director of executive recruitment firm Conley and Company. His broad experience comprises 25 years in senior executive recruiting and human resources roles, including the recruitment of top executives for major corporations such as Apple Computer, Inuit, and Norton Company. Prior to joining Conley and Company, Ahearn coordinated the executive recruiting and human resources consulting activity for Charles River Ventures, handling more than 60 portfolio companies and coordinating more than 50 executive searches per year as well as CEO coaching assignments.
Clayton Christensen is author of the internationally acclaimed book The Innovator's Dilemma: When New Technologies Cause Great Firms to Fail and currently serves as the Robert and Jane Cizik Professor of Business Administration at Harvard Business School. Credited with coining the term "disruptive technology," Christensen's expertise lies in the management of technological innovation, developing organizational capabilities, and finding new markets for new technologies. Prior to joining the Harvard Business School faculty, he served as chairman and president of Ceramics Process Systems Corporation (CPS), a firm which he co-founded with several MIT professors in 1984.
John Cronin is the inventor of the ipCapital SystemSM methodology that extracts and documents invention, identifies opportunity and risk, and creates significant market value. His development of this system is based on a lifelong study of inventive thinking processes. Currently Chairman and CEO of ipCapital Group, Cronin is an electrical engineer who spent 17 years with IBM, where he filed approximately 100 patents, published over 150 technical papers, and received IBM's Most Distinguished Inventor Award.
Das Narayandas teaches the Business Marketing Elective in the MBA program and is the chair of the Business Marketing Strategy for senior sales and marketing executives at Harvard Business School, where he also authored two case studies on Color Kinetics. His background includes management experience in sales and marketing for various multinational firms that involved field sales and sales force management, new product development, alliance formation, and marketing communications.
Jeffry Timmons is known internationally for his research, innovative curriculum development, and teaching in entrepreneurship, new ventures, entrepreneurial finance and venture capital. He has held simultaneous professorships at Babson College and Harvard Business School. Timmons has authored several books including the leading textbook New Venture Creation, 5th ed.; Venture Capital at the Crossroads, with Babson colleague William D. Bygrave; and the groundbreaking The Entrepreneurial Mind.
Richard Vitkus has had a wide-ranging legal and corporate career, including General Counsel and other senior level positions with major global corporations such as Zenith Electronics Corp., Computerland Corp., Emhart Corp., and Beatrice Companies. He has extensive experience in acquisitions and divestitures, working with and advising boards, negotiating and managing significant commercial transactions, both domestically and abroad, and experience with companies in transition.
About Color Kinetics
Color Kinetics Incorporated is the pioneer of intelligent solid-state illumination technologies. The company designs, manufactures and markets an award-winning line of products that apply the practical and aesthetic benefits of LEDs to transcend the limits of traditional light sources for use in professional, consumer, and OEM and licensing applications. Its flagship line of technologies leverage a patented layer of digital intelligence, called Chromacore®, to generate and control millions of colors and dynamic lighting effects. Color Kinetics leads the industry in solid-state lighting innovation, including the custom engineered Chromasic® microchip, and holds a growing patent portfolio encompassing a number of emerging digital technologies. Founded in 1997, the company is privately held and is headquartered in Boston, MA with offices in the UK, China, and a joint venture in Japan. More information can be found at http://www.colorkinetics.com.
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