SAN JOSE, Calif., Oct. 24, 2013 — Optical communications products provider Oclaro Inc. has promoted Pete Mangan, a 30-year technology finance veteran, to chief financial officer, effective Nov. 11. Mangan, currently Oclaro's vice president of corporate finance, will succeed Jerry Turin, who previously announced plans to resign on Nov. 8 to pursue other opportunities.
"As vice president of corporate finance, Pete has been an instrumental leader in helping drive our restructuring plan," said Oclaro CEO Greg Dougherty. "His financial discipline and his wealth of experience in finance, restructuring and technology businesses are a strong complement to the executive team, and we anticipate a seamless transition into his new role as CFO."
Mangan joined Oclaro in May 2012 as vice president of corporate finance, responsible for the global operations finance team and, most recently, the corporate accounting and tax group. He has held finance positions at companies including AMD, Trident Microsystems, FormFactor, Spansion, Asyst Technologies and Sun Microsystems. He holds a bachelor’s degree in business economics from the University of California, Santa Barbara.
"Oclaro is making progress on its plans to return the company to fiscal stability," said Mangan. "Our recently announced divestitures are an important step in restructuring the company. I look forward to working even more closely with the Oclaro executive team to create a successful turnaround and sustainable company."
In September, Oclaro sold its Zurich-based subsidiary
and laser diode business to II-VI Inc. for $115 million as part of its restructuring plan, and this month sold its fiber amplifier and micro-optics business
to II-VI for $88.6 million.
For more information, visit: www.oclaro.com