JDSU Reveals Spinoff Names: Lumentum and Viavi
MILPITAS, Calif. — Lumentum and Viavi are the names of the two companies JDSU plans to split into this fall.
Meanwhile, Chief Financial Officer Rex Jackson will leave the company Sept. 30 following the expected completion of the spinoff.
JDSU’s communications and commercial optical products (CCOP) business will become Lumentum Holdings Inc., a name the company said reflects its “leadership in optical technologies, commitment to driving innovation, and its ability to effectively address its customers’ unique requirements while scaling with quality through well-established technological and operational expertise.”
Lumentum will develop optical components and subsystems for the data communications market, as well as lasers for both macro and micro materials processing applications. It will focus on growing its 3-D sensing and commercial lasers business and expanding into other market segments that can benefit from optical and laser technologies.
Alan Lowe will lead Lumentum as chief executive officer. He joined JDSU in 2007 as senior vice president of the lasers business, and became president of JDSU’s CCOP business segment in 2008.
Aaron Tachibana will be Lumentum’s CFO. He joined JDSU in November 2013 as vice president of finance and corporate controller. Prior to JDSU, he was chief financial officer at Pericom Semiconductor Corp.
JDSU’s network enablement (NE), service enablement (SE) and optical security and performance products (OSP) businesses will be renamed Viavi Solutions Inc.
Tom Waechter, JDSU’s current CEO, will lead Viavi. He joined JDSU in 2007 as president of communications test and measurement (the predecessor to the NE business) in 2007, and became CEO in 2009.
Jackson, the outgoing CFO, joined JDSU in 2011 as senior vice president of business services, and was promoted to chief financial officer in January 2013. Prior to JDSU, he served as chief financial officer of Symyx Technologies.
Current JDSU stockholders will own shares in both corporations following the separation.