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John T. Kurtzweil To Join Extreme Networks As Chief Financial Officer

Stocks in this article: EXTR

SANTA CLARA, Calif., May 22, 2012 /PRNewswire/ -- Extreme Networks, Inc. (Nasdaq: EXTR) today announced that John T. Kurtzweil will join the Company as chief financial officer and senior vice president. Kurtzweil comes to Extreme Networks from Cree, a $1 billion company and market leader in LED technology. On June 29th, Kurtzweil will succeed Interim CFO Jim Judson, who will continue as a consultant during a transition period.

Kurtzweil has more than 15 years of experience as the CFO of publicly-traded companies and has led strategic planning cycles, M&A teams, and finance operations focused on improving shareholder value. He has worked as CFO with leading technology companies such as Cree (Nasdaq: CREE), Cirrus Logic and ON Semiconductor. Kurtzweil also worked for Read-Rite Corporation, Maxtor Corporation and Honeywell Incorporated. During his six-year tenure at Cree, Kurtzweil transformed the finance organization and helped the company grow from $396 million in annual revenue at the end of his first year to more than $1 billion in annual revenue today, with zero debt.

Kurtzweil has also served as a change agent at Cree, implementing new programs in the areas of accounting, finance, supply chain management and IT with a focus on improved operations and increased cash flow management.

"John brings a perfect complement of skills and experience to the Extreme Networks team," said Oscar Rodriguez, president and CEO for Extreme Networks. "We are looking forward to John further transforming our company processes and systems to improve efficiency and productivity, towards our goal of improved profitability and revenue growth over time."

Kurtzweil is a CPA, CMA, has an MBA from the University of St. Thomas in St. Paul, Minn. and a bachelor's degree from Arizona State University in Accounting.

"I believe Extreme Networks is well positioned to capitalize on network upgrades for cloud, data centers and mobile infrastructures," said Kurtzweil. "Extreme Networks has a long record of developing high performance Ethernet products and has helped its customers manage complex networks with open and innovative technologies."

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