Milpitas, California, December 18, 2008– JDSU (NASDAQ: JDSU; and TSX: JDU) today announced that Thomas Waechter has been promoted to president and chief executive officer of JDSU effective January 1, 2009. Mr. Waechter will also be appointed to JDSU’s Board of Directors.
Waechter is currently president of JDSU’s largest business segment, Communications Test and Measurement, with responsibility for the overall business. Prior to joining JDSU in 2007, Waechter held a wide variety of executive positions including chief executive officer for three public companies. As president and chief executive officer of Stratex, he substantially grew revenue and improved profitability and was instrumental in driving the merger of Stratex and Harris, a leading independent supplier of wireless transmission systems.
Waechter’s experience also includes a 14-year career with the multi-national Schlumberger where he gained significant experience in international business. Over the last eight years he has gained detailed knowledge and experience within the telecommunications industry as the chief executive officer and chief operating officer of a number of public companies serving that market.
“After a thorough search process we believe we have selected the candidate that best matches the requirements for leading the company during these challenging economic times,” said Marty Kaplan, chairman, JDSU’s Board of Directors. “Since joining JDSU last year Tom has already made significant contributions to the company’s success through operational excellence as well as strategic acquisitions. Tom’s extensive leadership experience will serve the company well.”
“My priorities are clear: focus the collective talent and commitment of JDSU to support our worldwide customer base and ensure our joint success in today’s economic climate,” said Tom Waechter. “I am impressed with the opportunity for JDSU and I am honored to have the opportunity to work with the entire company.”
“I am proud of the significant progress and accomplishments that the company as a whole has made in the last five years,” said Kevin Kennedy, JDSU’s president and chief executive officer. “Tom is an excellent choice to lead JDSU and I look forward to continue working with him through my board participation.”
Waechter holds a Bachelor of Business Administration from The College of William and Mary. He also serves as a trustee for the College of William and Mary Foundation.
A search for the replacement of the President of the Communications Test and Measurement business segment, including both internal and external candidates, is currently underway. David Holly, senior vice president in the Communications Test and Measurement business segment will have interim responsibility for day-to-day operations.
About JDSU
JDSU (NASDAQ: JDSU; and TSX: JDU) enables broadband and optical innovation in the communications, commercial and consumer markets. JDSU is the leading provider of communications test and measurement solutions and optical products for telecommunications service providers, cable operators, and network equipment manufacturers. JDSU is also a leading provider of innovative optical solutions for medical/environmental instrumentation, semiconductor processing, display, brand authentication, aerospace and defense, and decorative applications. More information is available at http://www.jdsu.com/.
Contact Information
Investors: Michelle Levine, 408-546-4445 or investor.relations@jdsu.com
Press: Kathleen Greene, 408-546-5852 or kathleen.greene@jdsu.com