James --
The most important background centers on new management. I've gone back and found URLs for each appointment. Note progression from restructuring the board, including ousting chairman, to hiring new CFO, then new chairman/pres/CEO, and on down the list. Sort of gives new meaning to the term "cleaning house." I met Hay and Rizzone yesterday and you couldn't find more impressive leaders anywhere in the industry today. Their credentials speak for themselves.
Changes in chronological order:
March 24, 1999, board expanded:
ortel.com
(John)Gaulding, 53, specializes in guiding companies through technology shifts and their effects on industry. Prior to forming Gaulding & Co., a private investment and consulting firm in 1996, he served in senior executive positions in a wide range of industries, including as chairman and CEO of National Information Group, and as president and CEO of both ADP Claims Solutions Group and Pacific Bell Directory Inc. After beginning his career as a consultant, Gaulding worked with Pacific Telesis Corp. as corporate vice president, strategy and development, and as a member of the corporate executive committee. Gaulding holds an M.B.A. from the University of Southern California, and a B.S. in engineering from The University of California at Los Angeles. He currently serves on the board of directors of TMP Worldwide Inc. (Nasdaq:TMPW) and as chairman of the board of privately held Novo/Ironlight Inc.
(Luther) Nussbaum, 52, has earned a respected reputation for his role in the growth of numerous technology companies and has significant experience in mergers and acquisitions.
Prior to joining First Consulting Group in 1995 and helping to lead that company's successful initial public offering, he served as chairman and CEO of Evernet Systems Inc.; as president and chief operating officer and member of the board of directors of Ashton-Tate Corp.; and as senior vice president for marketing and operations of Businessland Inc. Nussbaum earned an M.B.A. in management information systems and finance from the Stanford Graduate School of Business and a B.A. in economics from Rhodes College.
March 9, 1999, new CFO:
businesswire.com
. . . Hay, 49, joins Ortel with more than 25 years of financial experience with some of the world's largest technology companies. Most recently he served as vice president finance and chief financial officer with Eltron International through its recent merger with Zebra Technologies. Previously, he served as chief financial officer for Titan Corporation and International Rectifier. Hay began his career in England, working with RCA and later a subsidiary MPI. He moved to the United States in the 1980s to work for Unisys Corporation.
He holds a bachelor of science degree in accounting from Dundee College of Commerce, Dundee, Scotland, and is a Fellow of the Institute of Financial Accountants. . . .
June 21, 1999, New Chairman, President and CEO:
ortel.com
. . . Rizzone, 50, formerly was president and chief executive officer of NetVantage Inc., a publicly traded networking company, and was instrumental in engineering the company's merger with Cabletron Systems (NYSE:CS) in September 1998. Earlier, he served in senior marketing, sales and general management positions with Retix, Make Systems, 3Com Corporation, Bridge Communications and Timeplex. Rizzone is currently associated with Crosspoint Venture Partners, where he has concentrated on developing new telecommunications businesses for the Irvine, California-based venture capital firm. . . .
June 30, 1999, New VP Operations:
ortel.com
. . . Pontiakos, 40, formerly was senior vice president of product development and operations of NetVantage Inc. and played a key role in refocusing and expanding the company's engineering, marketing and sales operations prior to its merger with Cabletron Systems in September 1998. Earlier, he held senior management positions with Wavetek Inc., Timeplex Inc., Rowe International and GMI Electronics.
July 7, 1999, VP Marketing named:
ortel.com
. . . Rittichier, 39, joined Ortel in April 1999 as vice president of marketing for broadband communications, where he was responsible for overseeing the business unit's development through marketing strategies and tactics. Prior to joining Ortel, Rittichier directed marketing, sales and manufacturing for ETEC Systems. He also oversaw the development of the DigiRite 2000? system, the world's first commercially successful Laser Direct Imaging system. . . .
September 9, 1999, new VP Sales:
ortel.com
. . . Prior to joining Ortel, (Martin) Kurta served as Regional Director at Network General, where he was responsible for overseeing the management of twenty-two company representatives. He earned a bachelor's of science degree in electrical engineering from the University of Maryland.
Q2 will be above expectations:
ortel.com
And a few comparisons based on 11/10 close:
P/B P/S mk cap
ORTL 8.36 7.66 $565 million
SDLI 11.56 26.47 $4.5 billion
JDSU 7.67 43.70 $44 billion
ETEK 30 23. $4.87 billion
Good article on HFC, though this is not ORTL's focus market going forward:
ortel.com
Article explaining differences between 1310 and 1550nm:
ortel.com
I'll post my notes later.
Pat |
