NeoPhotonics (NYSE: NPTN), a producer of photonic integrated circuit, or PIC, based modules and subsystems for bandwidth-intensive, high speed communications networks, announced the appointment of Ray Wallin as the company's new Senior Vice President and Chief Financial Officer.
According to a press release, 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. Most recently, Wallin served as Chief Financial Officer of Micrel, Inc., an specialist in analog, high bandwidth communications and Ethernet IC solutions, where he led the company's finance, investor relations, human resources and IT departments globally. He reportedly 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 of NeoPhotonics. "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."
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Prior to his role at Micrel, Wallin served as CFO of Neterion, a provider of 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 reporting requirements. Prior to Sipex, Wallin was Chief Financial Officer of iWatt and Kendin and held senior finance positions with Cirrus Logic. 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.
“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,” commented Wallin. “I look forward to helping strengthen the company’s systems and controls while working to improve its overall financial performance."
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