CHATSWORTH, Calif., Sept. 14 -- Optical components maker MRV Communications, Inc. will carry out a short-form merger with its subsidiary Luminent, Inc. because of weak demand in the telecommunications industry. A short form merger does not require shareholder approval.
MRV, which already owns 92.3 percent of Luminent, also said Shay Gonen has been appointed interim chief financial officer. The company's former CFO, Edmund Glazer, died on Tuesday on American Airlines flight 11 when it crashed into the New York World Trade Center.
The company also said that William Spivey has resigned as Luminent's chief executive, and will be replaced by MRV president and chief executive officer Noam Lotan. Lotan is currently chairman of Luminent.