Tony Riley Named Interim CFO
FREMONT, Calif., Sept. 14 - Avanex Corporation (Nasdaq: AVNX) today announced that Richard Yonker has stepped down as chief financial officer. The company has named Tony Riley as interim CFO and has commenced a search for the CFO position. In addition, the company announced that Dr. Joseph Miller, a member of the company's board of directors, plans to resign effective Oct. 27, 2005 due to expanded responsibilities at his employer, Corning Incorporated.
"We appreciate the valuable contributions made by Joe Miller during his tenure on the board at Avanex and wish him well in his pursuits," said Jo Major, president and CEO of Avanex. "We are pleased that Tony, who currently serves as Avanex's corporate controller, will fill this important role. Above all, we remain focused on the transition of Avanex to a low-cost manufacturing and hybrid R&D model."
Tony Riley joined Avanex as a consultant in May 2005 and has served as the company's corporate controller since August 2005. He has more than 15 years experience in financial management in public and private companies. Riley is a co-founding partner and consultant with The CFO Network, a financial consulting firm that specializes in interim and full-time CFO and controllership consulting, Sarbanes-Oxley project management and strategic consulting. Previously, Riley served as acting Chief Financial Officer and then acting Director of Finance and Accounting of Aclara BioSciences. Prior to that, he was Corporate Controller of Kosan Biosciences.
Tony holds an MBA from the University of Chicago and BSc from the University of Bristol, England, and is a Certified Public Accountant.
About Avanex
Avanex Corporation is a leading global provider of Intelligent Photonic Solutions(TM) to meet the needs of fiber optic communications networks for greater capacity, longer distance transmissions, improved connectivity, higher speeds and lower costs. These solutions enable or enhance optical wavelength multiplexing, dispersion compensation, switching and routing, transmission, amplification, and include network-managed subsystems. Avanex was incorporated in 1997 and is headquartered in Fremont, California. Avanex also maintains facilities in Erwin Park, N.Y.; Nozay, France; San Donato, Italy; Shanghai, China; and Bangkok, Thailand. An overview of the company can be found on our website at: http://www.avanex.com.
