x
Optical components

JDSU Antes Up

12:30 PM -- As Joe Torre most likely loses his job, Kevin Kennedy gets a contract extension.

The JDSU chief executive's four-year contract expired Aug. 31. I didn't hear much speculation that he'd leave, and he didn't. He's signed for another two years, according to an SEC filing today.

Kennedy gets raised to an $800,000 base salary from $575,000. The deal also includes 750,000 shares of stock to be dispersed at future dates -- check the gory details here.

JDSU (Nasdaq: JDSU; Toronto: JDU) stock hasn't set the market on fire the past two years, but overall, Kennedy has done an able job. He's steering the company into higher-margin territory in test and measurement. Some still say JDSU could do better without its optical division, though. As for the Torre and the New York Yankees, who last night got bumped from the playoffs yet again -- hey, at least Yankee fans got to see the game, even if they're in Canada.

— Craig Matsumoto, West Coast Editor, Light Reading

Be the first to post a comment regarding this story.
HOME
Sign In
SEARCH
CLOSE
MORE
CLOSE