Avanex announces the dismissal of Dr. Jo Major as president and CEO

July 7, 2008

1 Min Read

FREMONT, Calif. -- Avanex Corporation (NASDAQ:AVNX) today announced the termination of Dr. Jo Major from his position as President and Chief Executive Officer, due to the inability of Dr. Major and the Board of Directors to work together effectively. Dr. Major has also resigned from the Board of Directors. In addition, Avanex announced the resignation of Ms. Marla Sanchez from her position as Senior Vice President and Chief Financial Officer.

Avanex also announced the appointment of Dr. Giovanni Barbarossa as Interim Chief Executive Officer. Dr. Barbarossa has worked at Avanex since February 2000 and has served as Senior Vice President and Chief Technology Officer since May 2002. Previously he ran the Active Component Business Unit. Dr. Barbarossa joined Avanex prior to its initial public offering and has been a member of the executive team for over six years. Through his tenure at Avanex, which is the longest of any other officer at the Company, Dr. Barbarossa has established long-standing relationships with customers and employees.

The Board has begun a CEO and CFO search, and a subcommittee of the Board has been established to review potential candidates. Mr. Paul Smith, a current member of the Board, has also been appointed as Non-Executive Chairman of the Board.

“I would like to thank Jo, on behalf of our Board of Directors, for his contributions in taking the Company through a difficult transition period over the last several years. We look forward to continuing the solid execution of the Company’s strategy,” said Mr. Smith.

Avanex Corp. (Nasdaq: AVNX)

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