Universal Display Corporation announces retirement plans for Chief Financial Officer Sidney D. Rosenblatt

EWING, NJ–(BUSINESS THREAD)–Universal Display Corporation (Nasdaq: OLED), enabling energy-efficient displays and lighting with its UniversalPHOLED® technology and materials, today announced that after 26 brilliant and remarkable years with the company, Sidney D. Rosenblatt plans to retire as Chief Financial Officer at the end of this year. Rosenblatt will remain on the company’s Board of Directors. Universal Display also announced today that Brian Millard has been named Chief Financial Officer, effective September 6, 2022.

“It has been more than two and a half wonderful and tireless decades building and shaping Universal Display Corporation from a three-person startup to a successful global leader that continues to be at the forefront of the OLED industry,” he to say. Rosenblatt. “I am grateful for my incredible journey at UDC and look forward to working with Brian to ensure a smooth transition. Sherwin (Seligsohn), Steve and I took this company public in 1996 with a patent pending, a research contract with Princeton University and the vision to revolutionize the display industry. The next 15 years were filled with triumphs, challenges, unwavering determination and an unwavering belief in the future of OLEDs and the company. In 2011 we achieved profitability and since then UDC’s earnings have reached new record levels. It has been a great honor to help lead this amazing company and work alongside phenomenal and dedicated people over these many years. I am honored and proud of all the success to UDC and I am confident that the future of the company is exceptionally strong”.

“On behalf of the Board, the management team and our colleagues at UDC, I would like to thank Sid for his extraordinary leadership, steadfast commitment and immeasurable contributions to the company. He has been instrumental in building and strengthening UDC’s strong foundation for long-term sustainable growth,” said Steven V. Abramson, Chairman and CEO of Universal Display Corporation. “I am deeply grateful for Sid’s astute counsel and, on a more personal note, the wonderful friendship we have shared for more than 45 years. Our partnership began when we met in law school in 1976 and extended to professional world in 1982. We both joined a previous Sherwin startup that helped invent digital mobile radio, International Mobile Machines Corporation (IMM). Having helped successfully transform two early-stage companies into operations world-class profitability over nearly five decades, I would like to wish Sid, on behalf of the entire company, a happy and well-deserved retirement.”

Abramson continued, “We are pleased to welcome Brian Millard to Universal Display Corporation. Brian brings a wealth of financial, operational and strategic experience to UDC. As we move into the next exciting chapter in our long-term growth story term, I am confident that Brian is a perfect fit for UDC’s culture of inventiveness, integrity, inclusion and imagination.”

“I am excited to join the management team at Universal Display Corporation, a global leader in the OLED ecosystem,” said Brian Millard. “As a pioneering innovator in the young OLED industry, the company has countless tremendous opportunities ahead of it. I look forward to being part of the Universal Display team to help achieve its vision for the future and drive shareholder value.” .

Millard joins Universal Display Corporation with more than 15 years of financial, operational and strategic experience and has worked in senior roles across a variety of industries. Millard comes to UDC from Emergent BioSolutions, where he most recently served as senior vice president of finance and corporate controller. Prior to Emergent, Millard held financial leadership positions at large multinational companies, including Hertz Global Holdings and Hilton Worldwide. He started his professional career at Deloitte & Touche. Millard holds a master’s degree and a bachelor’s degree in accounting from James Madison University and is a licensed CPA.

About Universal Display Corporation

Universal Display Corporation (Nasdaq: OLED) is a leader in the research, development and commercialization of organic light-emitting diode (OLED) technologies and materials for use in solid-state lighting and display applications. Founded in 1994 and with subsidiaries and offices worldwide, the Company currently owns, exclusively licenses or has the exclusive right to sublicense more than 5,500 issued and pending patents worldwide. Universal Display licenses its proprietary technologies, including its innovative high-efficiency UniversalPHOLED® phosphorescent OLED technology that can enable the development of energy-efficient and environmentally friendly displays and solid-state lighting. The company also develops and offers high-quality, state-of-the-art UniversalPHOLED materials that are recognized as key ingredients in the manufacture of peak-performance OLEDs. In addition, Universal Display provides innovative and customized solutions to its customers and partners through technology transfer, collaborative technology development and on-site training. To learn more about Universal Display Corporation, visit https://oled.com/.

Universal Display Corporation and the Universal Display Corporation logo are trademarks or registered trademarks of Universal Display Corporation. All other company, brand or product names may be trademarks or registered trademarks.

All statements in this document that are not historical, such as those relating to the adoption, development and anticipated advancement of the Company’s technologies, the Company’s expected results and the future declaration of dividends, as well as the growth of the OLED market and the company. opportunities in this market, are forward-looking financial statements within the meaning of the Private Securities Litigation Reform Act of 1995. You are cautioned not to place undue reliance on any forward-looking statements in this document, as they reflect the current views of Universal Display Corporation. with respect to future events and are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated. These risks and uncertainties are discussed in more detail in Universal Display Corporation’s periodic reports on Form 10-K and Form 10-Q filed with the Securities and Exchange Commission, including, in particular, the section entitled “Risk Factors” in the Universal Display Corporation Annual. Report on Form 10-K for the year ended December 31, 2021. Universal Display Corporation disclaims any obligation to update any forward-looking statements contained herein.

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