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Thomas Eriksson to Resign as CEO of Neonode

STOCKHOLM, Sweden, Dec. 05, 2017 (GLOBE NEWSWIRE) -- Neonode Inc. (NASDAQ:NEON), the optical interactive sensing technology company, today announced that Thomas Eriksson, CEO and co-founder of Neonode, will step down from his position as CEO at the end of this year for other roles in Neonode. He will remain on the Board of Directors.

Andreas Bunge, a recent investor in Neonode and member of the Board of Directors, will serve as interim CEO from January 1, 2018 until a new CEO is in place. Andreas Bunge previously has been CEO of various companies including Spago Nanomedical AB (formerly Spago Imaging AB), Accelerator Nordic AB, and Applied Sensor AB/ Nordic Sensor Technologies AB.

“Neonode is now entering a new phase in its development, and I am excited about the possibilities and the growing addressable market for our Multisensing technology,” said Thomas Eriksson. “I believe our company is well positioned to capitalize on recent strategic investments. With our new line of sensor components, we have created a platform to scale Neonode’s business into new applications and markets.”

“I am an entrepreneur by heart,” continued Thomas Eriksson. “I will continue to work with Neonode and, together with Andreas, participate in R&D, innovation, and business development with our key customers.”

“The Board of Directors respects Thomas’ decision and we know he will continue to contribute in a meaningful way to Neonode’s future,” said Ulf Rosberg, Chairman of the Board of Directors. “Thomas has been instrumental in the development of Neonode’s leading technology over the last 6 years while serving as CEO. We remain focused on finalizing key customer agreements in selected market segments, improving our internal processes, and building a solid operation geared for profitable growth.”

About Neonode

Neonode Inc. (NASDAQ:NEON) develops and licenses optical interactive sensing technologies. Neonode’s patented optical interactive sensing technology is developed for a wide range of devices like automotive systems, printers, PC devices, monitors, mobile phones, tablets and e-readers. NEONODE and the NEONODE Logo are trademarks of Neonode Inc. registered in the United States and other countries. AIRBAR is a trademark of Neonode Inc. All other trademarks are the property of their respective owners.

For more information please visit www.neonode.com

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These include, but are not limited to, statements relating to expectations, future performance or future events, and product cost, performance, and functionality matters. These statements are based on current assumptions, expectations and information available to Neonode management and involve a number of known and unknown risks, uncertainties and other factors that may cause Neonode's actual results, levels of activity, performance or achievements to be materially different from any expressed or implied by these forward-looking statements.

These risks, uncertainties, and factors are discussed under "Risk Factors" and elsewhere in Neonode's public filings with the U.S. Securities and Exchange Commission from time to time, including Neonode's annual report on Form 10-K, quarterly reports on Form 10-Q, and current reports on Form 8-K. You are advised to carefully consider these various risks, uncertainties and other factors. Although Neonode management believes that the forward-looking statements contained in this press release are reasonable, it can give no assurance that its expectations will be fulfilled. Forward-looking statements are made as of today's date, and Neonode undertakes no duty to update or revise them.

Copyright Neonode Inc. 2017. All rights reserved. Neonode is a registered trademark of Neonode Inc.

For more information, please contact:

Chairman of the Board:
Ulf Rosberg
E-mail: ulf.rosberg@neonode.com
Mobile: +46 70 516 9402

CFO:
Lars Lindqvist
E-mail: lars.lindqvist@neonode.com

Source:Neonode Inc.