Finisar’s CEO resigns

Fiber-optic communications component and subsystem maker Finisar Corp of Sunnyvale, CA, USA says that its CEO Michael Hurlston has resigned, in order to pursue another opportunity. He was not expected to remain with the firm following completion of its pending acquisition by optoelectronic component maker II-VI Inc of Saxonburg, PA, USA (announced on 9 November).

The board of directors has appointed chief operating officer Todd Swanson and executive VP of global operations Joseph Young to a newly formed Interim Office of the Chief Executive.

“Todd and Joe have each been with the company for well over a decade and have been critical to growth and development of Finisar into the leading company it is today,” comments chairman Robert Stephens. “We have confidence in their leadership as they guide the company toward completion of the II-VI acquisition while continuing to build on Finisar’s strong product portfolio.”

Finisar’s acquisition by II-VI remains under review by the State Administration for Market Regulation of the People’s Republic of China (SAMR). The review is currently in Phase III, which ends on 17 August. Finisar will make a subsequent announcement either when SAMR approves the transaction or if Phase III expires and II-VI re-files its clearance application in order to provide additional time for SAMR to review the transaction.

See related items:

II-VI and Finisar announce results of election on form of merger

II-VI’s acquisition of Finisar approved by both firms’ shareholders

II-VI to acquire Finisar for $3.2bn

Tags: Optical communications II-VI Inc Finisar

Visit: www.finisar.com

Visit: www.ii-vi.com