UniPixel COO joins CEO in departing, shares -5% AH

|By:, SA News Editor

Less than 24 hours after announcing CEO Reed Killion has resigned, UniPixel (UNXL) discloses COO Peter Shin has also left. The company has begun a search for a replacement. (8-K)

Shares are now down 19% since news of Killion's resignation first broke.

Oppenheimer has provided a cautiously optimistic take on Killion's departure, stating the hiring of an "operational oriented manager" would boost the firm's confidence in UniPixel. At the same time, Oppenheimer sees additional room for downside (up to a book value of ~$5/share) until more clarity is provided on future leadership.

UniPixel's struggles could make life easier for metal mesh touch sensor rival Atmel (ATML), which is working to ramp production of its XSense touch sensors.