Thursday, August 6, 2009

Sunrise Telecom Appoints New CEO

Sunrise Telecom announced the appointment of Bahaa Moukadam as the company's new CEO. Paul Marshall, the company's co-founder and former CEO, has been appointed to the position of chief technology officer. Lyron Bentovim, director and former head of the company's strategy committee, has been appointed to the position of chief operating officer.

Moukadam previously was the company's vice president of marketing. Prior to Sunrise Telecom, he spent more than 18 years at Spirent Communications, Hewlett Packard and Wandel & Goltermann (now part of JDSU) in a variety of executive positions.

The company also announced that as a result of the strategic alternative review and in order to achieve annual savings of approximately $2 million in administrative and regulatory compliance costs, Sunrise Telecom will voluntarily de-register its shares with the U.S. Securities and Exchange Commission (SEC). In order to preserve investor liquidity and transparency about the company's performance, Sunrise Telecom will continue to trade on the Pink Sheets under its current ticker symbol and will post regular quarterly and annual reports on the Pink Sheets website.

Another outcome of the company's strategic alternatives review is the decision to move most of its manufacturing operations from San Jose to its Taiwan facility. This move is expected to yield manufacturing cost savings of about $2 million annually, while reducing inventory by $3 million. This transition is expected to be completed by the end of 2009.


Post a Comment

See also