|[December 23, 2013]
NeoPhotonics Appoints Ray Wallin as Chief Financial Officier
SAN JOSE, Calif. --(Business Wire)--
NeoPhotonics (News - Alert) Corporation (NYSE:NPTN), a leading designer and
manufacturer of photonic integrated circuit, or PIC, based modules and
subsystems for bandwidth-intensive, high speed communications networks,
today announced the appointment of Ray Wallin as the Company's Senior
Vice President and Chief Financial Officer. Wallin has more than 30
years of experience in the high technology industry. He has held senior
financial management positions at several high growth semiconductor
manufacturing companies and has extensive experience with both public
and private companies including proven expertise in building a sound
financial infrastructure within a company.
Wallin most recently served as Chief Financial Officer of Micrel (News - Alert), Inc.,
an industry leader in analog, high bandwidth communications and Ethernet
IC solutions where he led the finance, investor relations, human
resources and IT departments globally. He drove a strategy of improving
gross and operating margins, reducing manufacturing and overhead costs,
and maintaining a strong balance sheet and cash flow.
"Ray is the ideal candidate to step into this important role on our
management team. We are excited to have appointed a seasoned
semiconductor industry veteran with an exemplary track record of
managing complex components businesses with global manufacturing
operations," said Tim Jenks, Chairman and CEO. "We are looking forward
to Ray's contributions as we continue to grow our business, expand our
operations including in Asia, and strive to increase shareholder value,"
"This is an exciting time to be joining NeoPhotonics. The Company is led
by a talented team and is well positioned to maintain its leadership
position in the accelerating global adoption of 100G," said Ray Wallin.
"I look forward to helping strengthen the company's systems and controls
while working to improve its overall finanial performance," concluded
Prior to his role at Micrel, Ray served as CFO of Neterion, an industry
leader in 10 Gigabit Ethernet (10 GbE) adapters for server and storage
environments. In his prior role as Chief Financial Officer and Senior
Vice President at Sipex Corporation, a public analog semiconductor
company, Wallin managed all financial and legal functions for the
company. He was also responsible for re-listing the company on the
NASDAQ Capital Market and successfully managing a multi-year restatement
process, bringing the company current with its periodic SEC (News - Alert) reporting
Prior to Sipex, Wallin was Chief Financial Officer of iWatt and Kendin
and held senior finance positions with Cirrus Logic (News - Alert). He holds a Masters
of Business Administration in Finance from the University of Chicago and
a Bachelor of Science in Economics with Honors and Phi Beta Kappa from
the University of Oregon.
Wallin is succeeding Cal Hoagland who has been NeoPhotonics' interim
Chief Financial Officer since September 2013. To provide additional
continuity with ongoing financial reporting and control improvements,
Hoagland, a partner with FLG Partners, a leading CFO services firm, is
expected to continue in an executive consulting role with the company
through its filing of its annual report on Form 10-K for the fiscal year
ended December 31, 2013.
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 the company's expected
growth and 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.
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