Universal Display Corporation Announces Passing of Founder and Visionary Entrepreneur Sherwin I. Seligsohn

EWING, New Jersey, December 06, 2022–(BUSINESS WIRE)–Universal Display Corporation (NASDAQ: OLED ) announced today that founder Sherwin I. Seligsohn passed away on December 3, 2022. The entire UDC community mourns the loss of Sherwin, a respected visionary, leader and friend. He expresses his condolences to his family and loved ones.

With exceptional intelligence and intense curiosity, Sherwin will leave an indelible mark on the display and wireless industries. Born in 1935, Sherwin’s overwhelming drive to learn conventional educational methods overshadowed him, so he dropped out of high school and pursued his life’s passions, including the stock market. Sherwin loved the Jersey Shore all her life and regularly spent time at the beach with her young children. Sherwin’s curiosity to track financial markets and receive real-time stock price updates without leaving the beach sparked the idea for a portable data machine. His pursuit of wireless technology led Sherwin to found his first multi-billion dollar company in 1972, International Mobile Machines (IMM), now known as InterDigital, Inc. (near: IDCC). In 1990, Sherwin stepped down as chairman of IMM and began looking for his next venture. After reading about new research work by Drs. Forrest and Thompson in self-emission organic materials Nature magazine, Sherwin decided to explore this groundbreaking technology by visiting the School of Electrical Engineering at Princeton University. There, he saw a green dot with a 9-volt battery hanging from it, which lit up for a few seconds before dying. From that little organic green dot, Sherwin envisioned the future of display technology and founded Universal Display Inc. in June 1994. Fast forward to today, Universal Display has grown and evolved from an R&D startup to a global leader in the OLED industry.

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Steven V. “I have had the privilege of working closely with Sherwin for more than 40 years. He was not only my brilliant mentor, but also a wonderful and generous friend. With a long-term strategic vision, Sherwin nurtured the guiding principles of UDC’s Curiosity and nurtured. Respect, humility and determination. His mindset of constantly ‘thinking outside the box’ and his bold conviction are embedded in the company’s DNA and are key to UDC’s remarkable success. Sherwin’s incredible legacy has led the company on its growth path. He will continue to innovate. We will miss him terribly.”

In addition to founding Universal Display, Sherwin I. Seligsohn served as its chairman from June 1995 until June 2022, when he was elected chairman emeritus. He also served as UDC Executive Director from June 1995 to December 2007, and as President from June 1995 to May 1996. He founded InterDigital and served as its chairman from August 1972 to June 1990. Sherwin was also a member of the Industrial Advisory Board of the Princeton Institute for Science and Technology of Materials (PRISM) at Princeton University.

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About Universal Show Company

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 display and lighting applications. Founded in 1994, the company, with subsidiaries and offices around the world, 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 UniversalPHOLED® phosphor OLED technology, which can enable the development of low-power, environmentally friendly displays and solid-state lighting. The company also develops and supplies high-quality and advanced UniversalPHOLED materials, which are recognized as key components in the manufacture of high-performance OLEDs. In addition, Universal Display provides innovative and customized solutions to its customers and partners through technology transfer, joint technology development and on-site training. To learn more about Universal Display Corporation, please visit https://oled.com/

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

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All statements in this document that are not historical, such as those relating to anticipated adoption, development and advancement of the Company’s technologies, and the Company’s expected results and future dividend announcements, as well as the growth of the OLED market and the Company’s opportunities in that market, are statements. Financial Prospects means the Private Securities Litigation Reform Act of 1995. You are cautioned not to place undue reliance on any forward-looking statements in this document because they reflect the current views of Universal Pictures. Due to future events and are exposed to risks and uncertainties that can cause the actual results to differ substantially from those considered. 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 Universal Display Corporation’s Annual it was discussed. 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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Universal Display:
Darius Liu
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