Contact Information: For media and analysts: Media: Jeff Ferry Tel. (408) 572-5213 jferry@infinera.com Investors: Bob Blair Tel. (408) 716-4879 bblair@infinera.com
Ita Brennan Will Succeed Duston Williams as Infinera CFO in June 2010
| Source: Infinera
SUNNYVALE, CA--(Marketwire - January 26, 2010) - Infinera Corporation (NASDAQ : INFN ) announced
today that Ita Brennan, vice president, finance and corporate controller,
will succeed Duston M. Williams as chief financial officer in June 2010.
Williams has been CFO of Infinera since June 2006. Brennan joined Infinera
four years ago from Maxtor Corporation and she has held an increasing set
of responsibilities in the finance organization since that time.
Before her service at Infinera, Brennan served in senior financial and
operations capacities in the U.S. and Europe at Maxtor, the multi-billion
dollar disk drive maker. Prior to Maxtor, Brennan was at Informix Software
Ireland Corp. She began her finance and accounting career at Deloitte &
Touche.
"I am very excited about having the opportunity to lead the Infinera
finance team at this juncture in the company's development," said Brennan.
"We have recruited a world-class team, built a company with a unique
long-term business model, and I am looking forward to helping to manage our
growth and development in the next several years."
In explaining his decision to resign, Williams said: "I have accomplished
much of what I set out to do at Infinera -- prepared and helped take the
company public, built a strong balance sheet and created a strong finance
organization that is tightly integrated and highly respected company-wide
and within the optical transport industry. A key part of that effort has
been the development of Ita Brennan as the next leader of the finance team.
Ita and I have worked together closely for the last five years at two
public companies. I have every confidence that the finance team led by Ita
has the financial discipline, controls and expertise necessary to support
Infinera's growth in the future."
Jagdeep Singh, executive chairman, said: "Since before our initial public
offering, Duston has helped Infinera through a critical stage in its
history as a company, building an outstanding finance group and overseeing
the development of an outstanding balance sheet. We are grateful for his
contributions to the company."
Tom Fallon, president and chief executive officer, stated: "We are
delighted to have an executive of Ita Brennan's caliber and experience to
lead our finance organization during our next stages of development and
growth. I look forward to her being a key member of the senior leadership
team at Infinera."
About Infinera
Infinera provides Digital Optical Networking systems to telecommunications
carriers worldwide. Infinera's systems are unique in their use of a
breakthrough semiconductor technology: the photonic integrated circuit
(PIC). Infinera's systems and PIC technology are designed to provide
customers with simpler and more flexible engineering and operations, faster
time-to-service, and the ability to rapidly deliver differentiated services
without reengineering their optical infrastructure. For more information,
please visit http://www.infinera.com/.
Forward-Looking Statements
This press release contains forward-looking statements, including
statements about our belief on our future growth and development. These
forward-looking statements involve risks and uncertainties, as well as
assumptions that if they do not fully materialize or prove incorrect, could
cause our results to differ materially from those expressed or implied by
such forward-looking statements. The risks and uncertainties that could
cause our results to differ materially from those expressed or implied by
such forward-looking statements include our ability to react to trends and
challenges in our business and the markets in which we operate; our ability
to anticipate market needs and develop new or enhanced products to meet
those needs; the adoption rate of our products; our ability to establish
and maintain successful relationships with our customers; our ability to
reduce customer concentration; our ability to compete in our industry;
fluctuations in demand, sales cycles and prices for our products and
services; shortages or price fluctuations in our supply chain; our ability
to protect our intellectual property rights; general political, economic
and market conditions and events; and other risks and uncertainties
described more fully in our documents filed with or furnished to the
Securities and Exchange Commission (SEC). More information about these and
other risks that may impact Infinera's business are set forth in our annual
report on Form 10-K, which was filed with the SEC on February 17, 2009, as
well as subsequent reports filed with the SEC. All forward-looking
statements in this press release are based on information available to us
as of the date hereof, and we assume no obligation to update these
forward-looking statements.