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Home Newsroom Press Releases March 11th, 2008 |
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MRV COMMUNICATIONS NAMES GUY AVIDAN to POSITION of CHIEF FINANCIAL OFFICER March 11th, 2008 CHATSWORTH, CA – March 11, 2008 – MRV COMMUNICATIONS, INC. (Nasdaq: MRVC), today announced that Guy Avidan, the Company’s acting Chief Financial Officer, has been named to the position of Chief Financial Officer, effective immediately. The Company also announced that Chris D. King joined MRV as Vice President, Finance and Chief Compliance Officer on January 2, 2008. "Over the last 8 months Guy Avidan has done an outstanding job as our acting CFO and we are pleased to confirm his appointment to the CFO position," said Noam Lotan, MRV's President and Chief Executive Officer. "We feel Guy will continue to add tremendous value in this role based on the unique combination of financial, product and operational expertise that he brings to our executive management team. Additionally, we have strengthened our finance staff this year with the hiring of an experienced executive, Chris King, as our VP of Finance and Chief Compliance Officer. We are very pleased to have a strong finance team in place as we work diligently to accomplish our growth and operational goals." Since July 2007 Mr. Avidan has served as MRV’s acting Chief Financial Officer. Prior to this position he served as Vice President and General Manager of MRV International from September 2001 to July 2007. From 1995 to September 2001, Mr. Avidan served MRV in various executive capacities for other MRV subsidiaries. Prior to joining MRV, from 1992 to 1995, Mr. Avidan served as Vice President of Finance and Chief Financial Officer of Ace North Hills. MRV acquired substantially all of the assets and businesses of Ace North Hills in 1995. From 1989 to 1992, Mr. Avidan practiced accounting with a public accounting firm that became a part of Ernst & Young. He holds a B.A. degree in Economics and Accounting from Haifa University. Prior to joining MRV, Mr. King was Senior Vice President, Finance at Tandberg Television Inc, a public company (traded on the Oslo exchange) selling video compression and transmission hardware, which was acquired by Ericsson in April 2007. At Tandberg Television Mr. King led the Americas Region finance team and after the Ericsson acquisition oversaw the global effort to bring the Company into Sarbanes-Oxley compliance. Mr. King also served as Chief Financial Officer of GoldPocket Interactive, Inc. from March 2000 up until its sale to Tandberg Television in November 2005. Prior to this Mr. King was an audit manager at PriceWaterhouseCoopers where he worked for 7 years. Mr. King holds a Bachelor of Arts degree in business economics from the University of California, Santa Barbara, and is a certified public accountant. About MRV Communications, Inc. MRV Communications, Inc. ("MRV") is a leading provider of network equipment and services, and optical components. MRV's networking business provides equipment used by commercial customers, governments and telecommunications service providers, and includes switches, routers, physical layer products and out-of-band management products as well as specialized networking products for aerospace, defense and other applications including voice and cellular communication. MRV markets and sells its products worldwide through a variety of channels, including a dedicated direct sales force, manufacturers' representatives, value-added-resellers, distributors and systems integrators. MRV also has operations in Europe that provide network system design, integration and distribution services that include products manufactured by third-party vendors, as well as internally developed and manufactured products. The Company's optical components business, operating under the Source Photonics brand, includes Source Photonics, Inc. and Fiberxon, Inc., both wholly owned subsidiaries of MRV. Publicly traded since 1992, MRV is listed on the NASDAQ Global Market under the symbol MRVC. For more information about MRV and its products, please call (818) 773-0900 or visit www.mrv.com and www.sourcephotonics.com. Investor Relations MRV Communications, Inc. (818)886-MRVC (6782) ir@mrv.com The Blueshirt Group for MRV Rakesh Mehta (415)217-7722 rakesh@blueshirtgroup.com |
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