MRV Names Bonney President, CEO

CHATSWORTH, Calif. -- MRV Communications (NASDAQ:MRVC), a global provider in converged packet and optical solutions that empower the optical edge and network integration services for leading communications service providers, named Mark J. Bonney, 60, its President and Chief Executive Officer.

Bonney, who has served as Executive Vice President and Chief Financial Officer since August 2014 and as a director of MRV since April 2013, replaced David Stehlin, who resigned as an officer and director of MRV to pursue other interests. The company also promoted Stephen Krulik, 42, who has served as Vice President of Finance since May 5, 2014 to Chief Financial Officer. These appointments were unanimously approved by the independent members of the company’s board of directors.

Kenneth Traub, MRV Chairman, said, “Mark has an impressive record of accomplishment in managing turnarounds, growth and strategic transactions. The entire board is confident he brings the right skills and discipline to execute our strategic plans focused on maximizing shareholder value. We would like to thank David Stehlin and wish him well in all of his future endeavors.”

Bonney commented, “Since taking on the role of CFO four months ago I have become increasingly confident in our people, our technology and our product and service offerings of both our Network Integration and Network Equipment businesses. I am excited to expand my role and work more closely with an excellent management team as we drive the MRV strategy forward.”

Bonney has successfully managed turnarounds in several technology companies in the US and abroad over the past 30 years. From January 2013 through August 2014, Bonney served as the President and CEO of On Board Advisors, LLC, a strategic and financial advisory firm. From March 2010 to December 2012, Bonney was EVP and CFO of Direct Brands, Inc. From 2002 to 2008, he was a Director, and from 2005 to 2008, he was EVP and CFO of American Bank Note Holographics, Inc. Prior to 2002, he was President, COO and Director at Axsys Technologies, Inc., a Nasdaq-listed leading manufacturer of highly sophisticated optical components and subsystems and CFO and VP of operations at Zygo Corporation, a Nasdaq-listed manufacturer of metrology measurement and control systems and optical components.

MRV Communications Inc. (Nasdaq: MRVC)