NeoPhotonics Appoints Elizabeth Eby as Chief Financial Officer
SAN JOSE, Calif.--(BUSINESS WIRE)--Aug. 15, 2017--
NeoPhotonics Corporation (NYSE:NPTN), a leading designer and
manufacturer of optoelectronic solutions for the highest speed
communications networks in telecom and datacenter applications, today
announced the appointment of Elizabeth “Beth” Eby as the Company's
Senior Vice President and Chief Financial Officer. Beth is replacing
Sandra Waechter, Interim Chief Financial Officer, effective immediately.
Beth Eby brings to NeoPhotonics more than 25 years of financial
experience at Intel Corporation where she most recently held the
position of Vice President of Finance and Group Chief Financial Officer
for Intel’s Internet of Things Group. Prior to that she was Vice
President of Finance and Group Controller for Corporate Financial
Planning & Reporting where she was responsible for all financial, audit
committee and SEC reporting. Over the course of her career Ms. Eby also
held finance leadership roles related to cost and manufacturing, sales
and product planning, including two multi-year assignments in Asia. Ms.
Eby obtained a MBA degree from Carnegie Mellon Graduate School of
Business and a B.S. in Applied Mathematics from University of Michigan.
"On behalf of the Board and Management I would like to welcome Beth to
NeoPhotonics,” said Tim Jenks, Chairman and CEO of NeoPhotonics. “Beth’s
experience in the semiconductor industry and deep expertise in running
finance organizations with complex, best-in-class global fabrication
operations both in the US and in Asia will be an immediate asset to
NeoPhotonics. We are looking forward to Beth's contributions to the team
as we continue grow and scale our business,” concluded Jenks.
“I am excited to join the team at NeoPhotonics. The acceleration of
cloud services environments and proliferation of connected devices in
every facet of daily life is driving the need for higher and higher
bandwidth and the need for advanced optical networks,” said Beth Eby,
Chief Financial Officer of NeoPhotonics. “I look forward to bringing my
experience to bear in driving profitable growth at NeoPhotonics,”
Inducement Plan Equity Awards
In connection with Ms. Eby’s joining the Company as the Company’s new
Chief Financial Officer, the Company granted special inducement equity
awards to Ms. Eby under the NeoPhotonics 2011 Inducement Award Plan. The
Company granted a stock option for 184,500 shares, which option vests
25% on the first anniversary of Ms. Eby’s employment start date and the
remainder in thirty-six substantially equal monthly installments
thereafter, subject to Ms. Eby’s continued service. The stock option has
a ten year term and an exercise price equal to the closing price
of NeoPhotonics common stock on the New York Stock Exchange on the date
of grant (August 15, 2017). The Company also granted Ms. Eby two
restricted stock unit (RSU) award grants. The first RSU grant covers
123,000 shares and vests 25% on each anniversary of Ms. Eby’s employment
start date, subject to Ms. Eby’s continued service. The second RSU grant
covers 50,000 shares and vests in full upon the one year anniversary of
Ms. Eby’s employment start date, subject to Ms. Eby’s continued service.
The equity awards were approved by the Compensation Committee of
the NeoPhotonics board of directors and were granted as a material
inducement to Ms. Eby’s employment with NeoPhotonics.
The NeoPhotonics Board of Directors approved the 2011 Inducement Award
Plan based on the employment inducement exemption provided under
the NYSE listing standards. As a result, the 2011 Inducement Award Plan
did not require shareholder approval, and this press release is being
issued pursuant to applicable NYSE guidance.
Safe Harbor Statement Under the Private Securities Litigation Reform
Act of 1995
This press release includes statements that qualify as forward-looking
statements under the Private Securities Litigation Reform Act of 1995.
These forward-looking statements include statements about the following
topics: demand for the Company’s high speed products, anticipated growth
of the Company’s business, future financial results, and industry
trends. Forward-looking statements are subject to certain risks and
uncertainties that could cause the actual results to differ materially.
For discussion of these risks and uncertainties, please refer to the
documents the Company files with the SEC from time to time, including
the Company's Annual Report on Form 10-K for the year ended December 31,
2016 and its Form 10-Q for the six months ended June 30, 2017. All
forward-looking statements are made as of the date of this press
release, and the Company disclaims any duty to update such statements.
NeoPhotonics is a leading designer and manufacturer of optoelectronic
solutions for the highest speed communications networks in telecom and
datacenter applications. 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.
©2017 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.
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Source: NeoPhotonics Corporation
Beth Eby, +1-408-895-6086
Investor Relations, LLC
Erica Mannion, +1-617-542-6180