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. Fay.About NeoPhotonics 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.