Founder Germain Lamonde
appoints Philippe Morin as new CEO,
while remaining actively involved as Executive Chairman
QUEBEC CITY, March 29, 2017 /CNW Telbec/ - EXFO Inc. (NASDAQ:
EXFO) (TSX: EXF), the global network test, data and analytics
experts, announced today that Germain
Lamonde, the company's founder, Chairman of the Board and
Chief Executive Officer (CEO), has appointed Philippe Morin as EXFO's new CEO, effective
April 1, 2017.
Mr. Morin has more than 25 years of experience in the
telecommunications industry and became EXFO's Chief Operating
Officer (COO) in November 2015,
leading the company's global sales, go-to-market and product
management initiatives. Before joining EXFO, Mr. Morin was Senior
Vice-President of Worldwide Sales and Field Operations at Ciena. He
also held senior management positions at Nortel Networks, including
President of the Optical Networking Division.
Mr. Lamonde, who will become EXFO's Executive Chairman, will
maintain leadership of the acquisition strategy and remain actively
involved in defining the company's growth initiatives, customer
outreach and corporate governance.
"After founding EXFO in my apartment and serving as its CEO, I
am proud of all we have accomplished over nearly 32 years, taking
the company from the concept level to global leader and helping the
most advanced network operators worldwide implement their strategic
transformations," said Mr. Lamonde. "Having known Philippe for a
long time and having worked closely with him on a wide range of
initiatives, I am confident he is the right person to take over the
day-to-day stewardship of EXFO and that he will receive the full
support of the global EXFO team and partners. Our combined
strategic vision, industry experience and leadership will create
added value for customers and shareholders as we drive EXFO to new
heights."
"I am deeply honored and grateful to Germain and the Board for
their trust," said Mr. Morin. "Germain has built an impressive
organization, a highly talented team and very strong brand equity,
all of which are highly respected by leading network operators
worldwide. I am personally invested in EXFO's success and fully
committed to taking the company to the next level."
EXFO is the market leader in portable optical and high-speed
Ethernet testing as well as the technology leader in active service
assurance. The company has more than 1,600 employees in 25
countries. More than 2,000 customers, including the world's leading
communications service providers, network equipment manufacturers
and Web 2.0. companies, use EXFO's test instruments and
real-time 3D analytics solutions.
About EXFO
EXFO develops smarter network test, data
and analytics solutions for the world's leading communications
service providers, network equipment manufacturers and web-scale
companies. Since 1985, we've worked side by side with our clients
in the lab, field, data center, boardroom and beyond to pioneer
essential technology and methods for each phase of the network
lifecycle. Our portfolio of test orchestration and real-time 3D
analytics solutions turn complex into simple and deliver
business-critical insights from the network, service and subscriber
dimensions. Most importantly, we help our clients flourish in a
rapidly transforming industry where "good enough" testing and data
analytics just isn't good enough anymore—it never was for us,
anyway. For more information, visit EXFO.com and follow us on the
EXFO Blog.
Forward-Looking Statements
This press release contains
forward-looking statements within the meaning of the U.S. Private
Securities Litigation Reform Act of 1995, and we intend that such
forward-looking statements be subject to the safe harbors created
thereby. Forward-looking statements are statements other than
historical information or statements of current condition.
Words such as may, expect, believe, plan, anticipate, intend,
could, estimate, continue, or similar expressions or the
negative of such expressions are intended to identify
forward-looking statements. In addition, any statement that
refers to expectations, projections or other characterizations of
future events and circumstances are considered forward-looking
statements. They are not guarantees of future performance
and involve risks and uncertainties. Actual results may differ
materially from those in forward-looking statements due to various
factors including, but not limited to, macroeconomic uncertainty as
well as capital spending and network deployment levels in the
telecommunications industry (including our ability to quickly adapt
cost structures with anticipated levels of business and our ability
to manage inventory levels with market demand); future economic,
competitive, financial and market conditions; consolidation in the
global telecommunications test and service assurance industry and
increased competition among vendors; capacity to adapt our future
product offering to future technological changes; limited
visibility with regards to timing and nature of customer
orders; longer sales cycles for complex systems involving
customers' acceptances delaying revenue recognition; fluctuating
exchange rates; concentration of sales; timely release and market
acceptance of our new products and other upcoming products; our
ability to successfully expand international operations; our
ability to successfully integrate businesses that we acquire; and
the retention of key technical and management personnel.
Assumptions relating to the foregoing involve judgments and risks,
all of which are difficult or impossible to predict and many
of which are beyond our control. Other risk factors that may affect
our future performance and operations are detailed in our Annual
Report, on Form 20-F, and our other filings with the U.S.
Securities and Exchange Commission and the Canadian securities
commissions. We believe that the expectations reflected in the
forward-looking statements are reasonable based on information
currently available to us, but we cannot assure that the
expectations will prove to have been correct. Accordingly, you
should not place undue reliance on these forward-looking
statements. These statements speak only as of the date of this
document. Unless required by law or applicable regulations, we
undertake no obligation to revise or update any of them
to reflect events or circumstances that occur after the date of
this document.
EXFO-C
SOURCE EXFO inc.