News

16 February 2007

 

Anania exits Bookham

Optical component, module and subsystem maker Bookham Inc has parted company with its president and CEO, Dr Giorgio Anania. According to the company, the decision was a mutual one, which also sees Anania resign his seat on the board of directors. Dr Peter Bordui, Bookham’s current non-executive chairman of the board of directors, will take on the role of president and CEO on an interim basis.  

Earlier this month Bookham reported fiscal Q2/2007 (to end-December) revenue of $56.3m (at the low end of its $56-59m forecast stated in November). This was level with $56.4m the prior quarter but down from $60.7m a year ago. At the same time, Bookham announced an aggressive cost-cutting plan designed to save $6-7m per quarter, after staff reductions, UK semiconductor business consolidation, and the movement of certain operations to China.

In his time as CEO, Anania has seen Bookham through the acquisition of optical components businesses from Nortel Networks and Marconi, as well as Ignis Optics Inc, the business of Cierra Photonics Inc, New Focus Inc, and Onetta Inc.

"We thank Giorgio for his hard work and dedication to Bookham over the past eight years," said Dr. Bordui. "Under Giorgio’s leadership, the Company completed its IPO and successfully transitioned from being a niche supplier of silicon photonics to a leading supplier of telecom optical components, having acquired and integrated a number of companies and significantly increasing Bookham's market share.”

Bordui has served as a director at Bookham since September 2004 and was appointed chairman in February 2005. Prior to joining Bookham, he served on the board of directors of New Focus, which was acquired by Bookham in 2004. Before joining New Focus, Bordui had a senior-level role at JDS Uniphase.  He holds bachelors, masters, and Ph.D. degrees in Materials Science and Engineering from the MIT.

"During this important transition period and beyond, the Company’s priority is to execute on the stated overhead cost reduction plans and achieve sustained profitability,” said Bordui.

See related items:

Insufficient non-Nortel sales force extra $6-7m cost cutting at Bookham

Bookham diversification continues to grow sales, cut costs; secures $25m credit facility 

Visit: http://www.bookham.com