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.
- Opnext Reports Q2
- Opnext Demos 40G, 100G
- Opnext, TeliaSonera Test 100G
- Cisco Renews Optical Focus With CoreOptics
- OFC/NFOEC: Mergers Haven't Gone Far Enough
- Opnext Makes Its 100G Move
- Opnext Dips on 40G Stagnation
- Mintera Nabs Nokia Siemens
- Opnext Adopts Poison Pill
- Opnext Changes CEOs, Starts Cutting
- Opnext Completes StrataLight Buy
And here's what we thought was our exit interview with Bosco, from 2009.
— Craig Matsumoto, West Coast Editor, Light Reading
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."