GRAHAM SETTLE JOINS RESEARCH FRONTIERS BOARD TO REPLACE RETIRING DIRECTOR GREGORY G. GRIMES

WOODBURY, NY, Aug. 17, 2020 (GLOBE NEWSWIRE) -- Research Frontiers Inc. (Nasdaq: REFR) announced today the retirement of Board member Gregory G. Grimes effective August 17, 2020. Mr. Grimes has been a member of the Board since 2011, was the Chairman of its Compensation and Stock Option Committee and was a member of the Company’s Audit and Nominating and Corporate Governance Committees. After an extensive search, the Board of Directors of Research Frontiers approved the appointment of William Graham Settle as a director effective August 17, 2020.

Joseph M. Harary, President and CEO of Research Frontiers noted: “Greg Grimes has been a shareholder of Research Frontiers since 1999 and a valued member of our Board of Directors since January 2011. His experience in the sales and marketing of luxury goods, his contacts in the automotive, aircraft and aerospace industries, and his business and management background have benefitted Research Frontiers greatly, and all of us wish him well in his retirement and look forward to his continued involvement and input with Research Frontiers as a shareholder.”

Joe Harary joined the employees, directors and shareholders of Research Frontiers in welcoming Mr. Settle to the Board: “Graham Settle has been a steady presence and familiar face at Research Frontiers since 1986 and our initial public offering. Over the years, as an investor and also as a member of a special team assisting me on international projects, he has gotten to know the executives at key licensees of ours in Asia, Europe and North America, and has a deep understanding of our SPD-SmartGlass technology and its markets. As a fellow entrepreneur who has founded or invested in, and successfully sold, businesses offering innovative products and services, he has a keen sense of the opportunities created by disruptive technologies and new markets. His experience in international business, economics, finance and government organizations will help Research Frontiers continue to grow worldwide.”

William Graham Settle

Graham Settle, age 62, brings to the Board 35 years of experience in both the public and private sectors.

Mr. Settle was first introduced to the Company by its founder, Bob Saxe, in 1986 at the time of Research Frontiers Initial Public Offering, four years after beginning his career on Wall Street with Morgan Stanley/Dean Witter in 1982. His due diligence and involvement over time has led him to make significant investments including direct participation in the Company’s capital raising transactions and purchases in the open market.