News

15 July 2008

 

Bookham promotes Turin to CFO, replacing Abely

Optical component, module and subsystem maker Bookham Inc of San Jose, CA, USA has appointed Jerry Turin as chief financial officer, effective 1 August. He will replace Steve Abely, who is resigning to join a privately held solar technology company. “Steve made many important contributions since joining the company in 2001 and he will leave Bookham in a much improved financial position,” says president and CEO Alain Couder.

Turin brings more than 20 years of combined accounting and corporate finance experience in the technology industry to the CFO position. Prior to joining Bookham in 2005, Turin was controller at Silicon Spice (playing a lead role in several financing rounds and then serving as a member of the team that closed the firm’s sale to Broadcom for $1.2bn in 2000). He was also corporate controller at Cirrus Logic (helping manage the finance group through various restructuring initiatives). Previously, he spent 12 years with Deloitte & Touche, mainly in the firm’s Silicon Valley practice (rising to senior manager of Audit Services).

Since 2005, Turin has served as Bookham’s VP of Finance and corporate controller, including managing the treasury functions (responsible for key aspects of finance functions, including external and SEC reporting, Sarbanes Oxley compliance, and serving as an integral resource to the audit committee).

Beyond his controller responsibilities, Turin has been involved in many of the CFO-related functions in order to be ready to assume the CFO position when the opportunity arose, says Couder. “His transition to the CFO role will provide Bookham with strong continuity,” he adds.

“The company’s financial results continue to improve, and its internal controls and financial reporting are solid, thanks in large part to Jerry’s efforts over the years,” reckons Abely.

“Bookham’s strong product portfolio is contributing to continued revenue growth,” says Turin. “When combined with our current cost-improvement plans, we continue to believe that we will see ongoing improvement in our financial performance.”

Bookham has also reconfirmed the financial guidance ranges for its fiscal fourth-quarter 2008 (ended 28 June), provided on 28 April (for relatively flat revenue of $58-63m, non-GAAP gross margin of 21-25%, and adjusted EBITDA of negative $3m to positive $1m). The firm will report the results on 24 July.

See related item:

Bookham’s tunable product growth hits constraints

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