The Board of Directors of Viavi Solutions appointed Richard E. Belluzzo as interim president and chief executive officer, effective immediately. Belluzzo currently serves as Chairman. Tom Waechter has stepped down as the company's president and chief executive officer and Board member. The Viavi Board is commencing a search for a permanent president and chief executive officer.
The announcement follows the separation of JDSU into two public companies on August 1, 2015 -- Viavi and Lumentum.
On behalf of Viavi’s Board, Mr. Belluzzo said, "We thank Tom for his contributions to the company since joining in 2007. He has led the company through a period of significant transformation, including the successful spin-off of Lumentum Holdings. As Viavi moves forward, we will seek a new leader with strong industry knowledge and customer relationships, technical expertise and operational acumen.”
Mr. Belluzzo added, “The Lumentum spin-off and related business realignment are the first milestones in repositioning Viavi for the future. Viavi’s Board is committed to implementing additional steps to enhance both its market position and shareholder value. The appointment of two new directors will add experience, expertise and momentum to these efforts. Through this transition, our foremost focus will remain on delivering value to our customers and shareholders as we execute to our industry shaping vision.”
http://www.viavisolutions.com/
Video: Tom Waechter on the Viavi Launch
