NeoPhotonics Announces CFO Transition
SAN JOSE, Calif.--(BUSINESS WIRE)--Aug. 29, 2013--
NeoPhotonics Corporation (NYSE: NPTN), a leading designer and
manufacturer of photonic integrated circuit, or PIC, based
optoelectronic modules and subsystems for bandwidth-intensive, high
speed communications networks, today reported that James D. Fay, its
Senior Vice President of Finance and Chief Financial Officer, has
announced his resignation in order to pursue another career opportunity.
The Company has retained an executive search firm to secure a successor.
To assist with the transition, Mr. Fay will remain an employee until
November 11, 2013 and remain as a consultant through March 15, 2014.
The Company also announced that it has retained Cal Hoagland as the
interim Chief Financial Officer of the Company. Mr. Hoagland is a
principal of FLG Partners, LLC, a leading Silicon Valley chief financial
officer services and board advisory consultancy firm. Mr. Hoagland will
serve as the Company’s interim Chief Financial Officer until the Company
completes its search for a new Chief Financial Officer.
“On behalf of the entire Company and our Board of Directors, we thank JD
for his valuable counsel and leadership over the past six years. He
built a strong finance team, helped lead our transition to a public
company and played an important role in implementing our strategic
initiatives. We wish him well in the next phase of his career,” said Tim
Jenks, Chairman, President and CEO.
“The decision to leave NeoPhotonics was a difficult one for me,” said JD
Fay. “The progress we made since I joined the Company has been rewarding
and I look forward to making similar contributions to another company
where I will have a similar role in growing the business,” concluded Mr.
NeoPhotonics is a leading designer and manufacturer of photonic
integrated circuit, or PIC, based optoelectronic modules and subsystems
for bandwidth-intensive, high-speed communications networks. The
company’s products enable cost-effective, high-speed data transmission
and efficient allocation of bandwidth over communications networks.
NeoPhotonics maintains headquarters in San Jose, California and ISO
9001:2000 certified engineering and manufacturing facilities in Silicon
Valley (USA), Japan and China. For additional information, visit www.neophotonics.com.
Forward Looking Statements
The statements in this press release regarding CFO transition planning
and the company’s future goals are forward-looking statements. These
forward-looking statements involve risks and uncertainties, as well as
assumptions and current expectations, which could cause the company’s
actual results to differ materially from those anticipated in such
forward-looking statements. The risks and uncertainties that could cause
the company’s results to differ materially from those expressed or
implied by such forward-looking statements include but are not limited
to those described in the company’s documents filed with or furnished to
the Securities and Exchange Commission. More information about these and
other risks that may impact the company’s business are set forth in the
“Risk Factors” section of the company’s Quarterly Report on Form 10-Q
for the three months ended June 30, 2013 filed with the Securities and
Exchange Commission on August 8, 2013. All forward-looking statements in
this press release are based on information available to NeoPhotonics as
of the date hereof and qualified in their entirety by this cautionary
statement, and NeoPhotonics assumes no obligation to revise or update
these forward-looking statements.
© 2013 NeoPhotonics Corporation. All rights reserved. NeoPhotonics and
the red dot logo are trademarks of NeoPhotonics Corporation. All other
marks are the property of their respective owners.
Source: NeoPhotonics Corporation
Sapphire Investor Relations, LLC
Erica Mannion, 415-471-2703