U.S. Markets closed

MicroVision CFO resigns, shares fall

REDMOND, Wash. (AP) -- MicroVision Inc., which develops energy-efficient, high-resolution drivers for miniature video displays, on Friday announced the resignation of its chief financial officer and said it has begun a search for his replacement.

The news sent the Redmond, Wash.-based company's shares tumbling more than 10 percent shortly in morning trading.

MicroVision said that Jeff Wilson will remain with the company to help with the transition to a new CFO.

Wilson joined MicroVision in 1999 and served in several roles including vice president of accounting before becoming CFO in 2006, the company said.

MicroVision shares fell 27 cents, or 10.5 percent, to $2.29 in morning trading. Its shares are up from a 52-week low of $1.11 in mid-May. They traded as high as $6.80 on late October 2011.