NeoPhotonics Appoints Ray Wallin as Chief Financial Officier

SAN JOSE, Calif.--()--NeoPhotonics Corporation (NYSE:NPTN), a leading designer and manufacturer of photonic integrated circuit, or PIC, based modules and subsystems for bandwidth-intensive, high speed communications networks, today announced the appointment of Ray Wallin as the Company's Senior Vice President and Chief Financial Officer. Wallin has more than 30 years of experience in the high technology industry. He has held senior financial management positions at several high growth semiconductor manufacturing companies and has extensive experience with both public and private companies including proven expertise in building a sound financial infrastructure within a company.

Wallin most recently served as Chief Financial Officer of Micrel, Inc., an industry leader in analog, high bandwidth communications and Ethernet IC solutions where he led the finance, investor relations, human resources and IT departments globally. He drove a strategy of improving gross and operating margins, reducing manufacturing and overhead costs, and maintaining a strong balance sheet and cash flow.

"Ray is the ideal candidate to step into this important role on our management team. We are excited to have appointed a seasoned semiconductor industry veteran with an exemplary track record of managing complex components businesses with global manufacturing operations,” said Tim Jenks, Chairman and CEO. "We are looking forward to Ray's contributions as we continue to grow our business, expand our operations including in Asia, and strive to increase shareholder value,” concluded Jenks.

“This is an exciting time to be joining NeoPhotonics. The Company is led by a talented team and is well positioned to maintain its leadership position in the accelerating global adoption of 100G,” said Ray Wallin. “I look forward to helping strengthen the company’s systems and controls while working to improve its overall financial performance,” concluded Wallin.

Prior to his role at Micrel, Ray served as CFO of Neterion, an industry leader in 10 Gigabit Ethernet (10 GbE) adapters for server and storage environments. In his prior role as Chief Financial Officer and Senior Vice President at Sipex Corporation, a public analog semiconductor company, Wallin managed all financial and legal functions for the company. He was also responsible for re-listing the company on the NASDAQ Capital Market and successfully managing a multi-year restatement process, bringing the company current with its periodic SEC reporting requirements.

Prior to Sipex, Wallin was Chief Financial Officer of iWatt and Kendin and held senior finance positions with Cirrus Logic. He holds a Masters of Business Administration in Finance from the University of Chicago and a Bachelor of Science in Economics with Honors and Phi Beta Kappa from the University of Oregon.

Wallin is succeeding Cal Hoagland who has been NeoPhotonics’ interim Chief Financial Officer since September 2013. To provide additional continuity with ongoing financial reporting and control improvements, Hoagland, a partner with FLG Partners, a leading CFO services firm, is expected to continue in an executive consulting role with the company through its filing of its annual report on Form 10-K for the fiscal year ended December 31, 2013.

About NeoPhotonics

NeoPhotonics is a leading designer and manufacturer of photonic integrated circuit, or PIC, based optoelectronic modules and subsystems for bandwidth-intensive, high-speed communications networks. The company’s products enable cost-effective, high-speed data transmission and efficient allocation of bandwidth over communications networks. NeoPhotonics maintains headquarters in San Jose, California and ISO 9001:2000 certified engineering and manufacturing facilities in Silicon Valley (USA), Japan and China. For additional information, visit www.neophotonics.com.

Forward Looking Statements

The statements in this press release regarding the company’s expected growth and future goals are forward-looking statements. These forward-looking statements involve risks and uncertainties, as well as assumptions and current expectations, which could cause the company’s actual results to differ materially from those anticipated in such forward-looking statements. The risks and uncertainties that could cause the company’s results to differ materially from those expressed or implied by such forward-looking statements include but are not limited to those described in the company’s documents filed with or furnished to the Securities and Exchange Commission. More information about these and other risks that may impact the company’s business are set forth in the “Risk Factors” section of the company’s Quarterly Report on Form 10-Q for the three months ended June 30, 2013 filed with the Securities and Exchange Commission on August 8, 2013. All forward-looking statements in this press release are based on information available to NeoPhotonics as of the date hereof and qualified in their entirety by this cautionary statement, and NeoPhotonics assumes no obligation to revise or update these forward-looking statements.

© 2013 NeoPhotonics Corporation. All rights reserved. NeoPhotonics and the red dot logo are trademarks of NeoPhotonics Corporation. All other marks are the property of their respective owners.

Contacts

Sapphire Investor Relations, LLC
Erica Mannion, +1-415-471-2700
ir@neophotonics.com

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Contacts

Sapphire Investor Relations, LLC
Erica Mannion, +1-415-471-2700
ir@neophotonics.com