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Optical components

Opnext CEO Opts Out

Opnext Inc. (Nasdaq: OPXT) CEO Gilles Bouchard has resigned, the company announced this morning. Harry Bosco, chairman of the optical components company and Bouchard's predecessor, is returning to action as interim CEO. Opnext officials weren't immediately available for comment.

Why this matters
The rest of the optical sector has rallied while Opnext has lagged, and that could be what prompted the board to make a change. (These "resignations" are rarely voluntary.) In the past 12 months, Opnext shares are down 18 percent, while JDSU (Nasdaq: JDSU; Toronto: JDU) and Oclaro Inc. (Nasdaq: OCLR) are both up roughly 65 percent, and Leading Lights winner Finisar Corp. (Nasdaq: FNSR) is up 223 percent. (See LR Names 2010 Leading Lights Winners.)

Opnext shares are up 2 cents (1 percent) at $1.62 this morning.

For more
Here's more about Opnext's recent fortunes, in reverse chronological order back to early 2009, when Bouchard was promoted to CEO from chief operating officer.

And here's what we thought was our exit interview with Bosco, from 2009.

— Craig Matsumoto, West Coast Editor, Light Reading

boozon 12/5/2012 | 4:16:12 PM
re: Opnext CEO Opts Out

Craig,


"These "resignations" are rarely voluntary".


Sure. And the higher the exit cheque, the more people are volunteer to resign.


I suspect that Gilles could take early retirement if he wanted to.


B.










spc_markl 12/5/2012 | 4:16:11 PM
re: Opnext CEO Opts Out

Craig,


A lot of the ex-StrataLight talent has bolted.


Mark

Pete Baldwin 12/5/2012 | 4:16:11 PM
re: Opnext CEO Opts Out

Fair enough. Once they tell the CEO he's no longer wanted, and they give him a severance check -- yes, at that point things are "voluntary."


The *start* of the process usually isn't so voluntary. But you're welcome to give Bouchard the benefit of the doubt.

Pete Baldwin 12/5/2012 | 4:16:09 PM
re: Opnext CEO Opts Out

Statement from Opnext, delivered by email just now:


"Gilles is leaving for reasons of his own. Opnext appreciates all of Gilles’ contributions to the company and wishes him the best in the future. Opnext is very fortunate to have an experienced team that should make the transition transparent to its customers and suppliers. Opnext’s focus continues to be serving its customers' needs with the best possible products while building shareholder value through profitable growth."

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