NeoPhotonics Corporation (NYSE:NPTN) Announces The Departure Of Its CFO

NeoPhotonics Corporation (NYSE:NPTN) announced the resignation of Ray Wallin, the chief Financial Officer.

Ray’s resignation

Mr. Wallin resignation is effective May 15, 2017. He will remain as a consultant to the company in a three months transition period. He has served the leading designer and the manufacturer of advanced hybrid photonic integrated optoelectronic modules as well as subsystems for bandwidth intensive and high speed communications networks in the capacity of CFO since December 2013.

Tim Jenks the president and Chief Executive Officer in NeoPhotonics appreciated Mr Wallin for his contribution to the company during the last three years. He said, “Leveraging his expertise, Ray played an important role in building a strong finance organization.” He went further to state that William added to the strength of NeoPhotonics financial position. He wished William best wishes in the future endeavors.

Remarks from the departing CFO

Ray on the other hand acknowledged the success of the company achieved in the last three years which included the build out of the company’s global finance organization. He stated that it was a privilege to be part of the not only talented but also committed team at NeoPhotonics.

The company has established an executive search in a bid to identify a perfect successor.

Responsibilities at NeoPhotonics

Ray doubled as the senior vice president and the CFO among other roles. He was tasked with reducing the expenditures of the company. He facilitated the freeing up od an additional $17 million meant for spending along with an increased borrowing limit of about $20 million. This led to the company having an additional $37.5 million in liquid cash.

He was generally responsible for the worldwide finance as well as information technology obligations. These include accounting, SEC filings, reporting, internal controls and M&A transactions.

Education and career history

Ray has Bachelor of Science, Economics form the University of Oregon and MBA in Finance from the University of Chicago.

Prior to joining NeoPhotonics, he served as the vice president of human resources at Micrel Incorporated (NASDAQ:MCRL) He also served at Sipex Corporation in the capacity of CFO and the vice president. Other companies he has worked at include Cirrus Logic, iWatt, Neterion and ROLM Corporation (IBM & Siemens).

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Published by Pamela Garcia

Pamela Garcia is a keen follower of U.S. stock market

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