18 June 2015

JDSU announces board members for Lumentum and Viavi

JDSU of Milpitas, CA, USA has announced the expected composition of the boards of directors for Lumentum Holdings Inc and Viavi Solutions Inc, the two publicly traded companies that will result from the previously announced spin-off of its Communications and Commercial Optical Products (CCOP) business. The separation is expected to be completed during third-quarter 2015.

"Both Lumentum [formerly CCOP] and Viavi Solutions [JDSU's Network Enablement (NE), Service Enablement (SE) and Optical Security and Performance Products (OSP) businesses] will have strong leadership and proven board and management teams, positioning them to deliver on their strategies," says Tom Waechter, president & CEO of JDSU, and CEO-designate for Viavi.  

Each of the Lumentum directors is expected to be appointed to the Lumentum board, effective upon completion of the spin-off from JDSU.

Lumentum expects to appoint the following directors:

• Harold Covert, former executive VP & chief financial officer of Lumos Networks Corp;
• Penelope Herscher, president & CEO of FirstRain;
• Martin Kaplan, former executive VP of Pacific Telesis Group Inc;
• Brian Lillie, chief information officer of Equinix Inc;
• Samuel Thomas, director, chairman & CEO of Chart Industries Inc; and
• Alan Lowe, CEO-designate for Lumentum, current president of JDSU's CCOP segment since 2008 and executive VP of JDSU.

"Our company will benefit from the collective institutional knowledge of the business and expertise in key market segments that these individuals bring with them," comments Lowe. Covert will serve as chairperson of the audit committee, Penelope Herscher will serve as chairperson of the compensation committee, and Martin Kaplan will serve as chair of Lumentum's board of directors as well as chairperson of the governance committee. JDSU previously announced the appointment of Pamela Strayer, contingent upon completion of the Lumentum spin-off.

Viavi expects that its board will include the following directors:

• Keith Barnes, former chairman & CEO of Verigy and executive with Agilent, Electroglas, IMS, and Cadence;

• Richard E. Belluzzo, managing partner of Corso Partners LLC;

• Tim Campos, chief information officer and a member of the senior management team at Facebook;

• Masood Jabbar, former president of the Computer Systems Division and chief financial officer for Sun Microsystems Inc;

• Pamela Strayer, senior VP & chief financial officer at Plantronics; and

• Thomas Waechter, current CEO of JDSU and CEO-designate for Viavi Solutions.

Strayer will serve as chairperson of the audit committee, Keith Barnes will serve as chairperson of the compensation committee, and Richard Belluzzo will serve as chair of Viavi's board as well as chairperson of the governance committee.

Lumentum has applied to trade on the NASDAQ exchange under the ticker symbol LITE. Viavi will trade on the NASDAQ exchange under the ticker symbol VIAV.

See related items:

JDSU to spin off CCOP business as Lumentum by Q3/2015; NE, SE and OSP businesses to become Viavi

JDSU separates into optical components and commercial lasers company and network and service enablement company

Tags: JDSU Optical communications Laser diodes

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