Monday, December 5, 2011

MRV's CEO Resigns

Dilip Singh has resigned as CEO of MRV Communications. The company has named Chris King as interim CEO. King will continue to hold his current position CFO during this interim period. MRV's Board also announced that it has named Barry Gorsun as President and Chief Operating Officer of MRV Communications. Gorsun will also maintain his role as President of MRV's Optical Communications Systems (OCS) division.

  • In October, Dr. Ken Shubin Stein resigned as chairman of MRV Communications. He was replaced by Board member Philippe Tartavull as interim chairman. The Board also announced that Dilip Singh resigned from the Board.

  • Also in October, MRV reported third quarter 2011 revenue of $62.5 million, compared with revenue of $68.2 million last quarter and $66.1 million in the third quarter of 2010. The year-over-year decrease was attributable to a decline of $3.3 million in the company's Network Integration Group and, to a lesser degree, a decline of $0.7 million at its Network Equipment Group, offset by a decrease in intersegment sales between each of these two business units, which are eliminated in the company's consolidated reporting.