Neonode, Inc. announced that effective August 15, 2014, David Brunton will retire from his position as the company's Chief Financial Officer, Vice President, Finance, Treasurer and Secretary. Mr. Brunton will continue to act as a consultant to Neonode in accordance with a consulting agreement. On August 5, 2014, Lars Lindqvist resigned as a member of the Board of Directors of Neonode.

On August 5, 2014, the Board of Directors of Neonode appointed Mr. Lindqvist as Neonode's Chief Financial Officer, Vice President, Finance, Treasurer, and Secretary effective August 15, 2014. Mr. Lindqvist, age 57, previously served as a director of Neonode Inc. since November 2011. Since January 2013, Mr. Lindqvist has served as a management consultant to LQ Consulting GmbH.

Mr. Lindqvist served as interim Chief Executive Officer of 24 Mobile Advertising Solutions AB from June 2012 to December 2012 and as interim Chief Executive Officer of ONE Media Holding AB from April 2011 to May 2012. Mr. Lindqvist served as Chief Financial Officer for Mankato Investments AG Group from June 2005 to March 2011. From August 2002 to May 2005, Mr. Lindqvist served as Chief Financial Officer for Microcell OY and from May 1995 to July 2002, he served as Chief Financial Officer of Ericsson Mobile Phones.

On August 5, 2014, Per Lofgren was appointed a member of the Board of Directors of Neonode. Mr. Lofgren will serve as a Class III director to fill the vacancy created by Mr. Lindqvist's resignation. Mr. Lofgren also was appointed as Chairman of the Audit Committee and a member of each of the Compensation Committee and the Nominating and Governance Committee.

Mr. Lofgren, age 50, has been employed for the past 30 years in various management positions for Ericsson. Since 2011, he has served as Executive Vice President and Chief Financial Officer of Ericsson North America. From 2008 until 2011, Mr. Lofgren served as President of Ericsson Sweden AB.