Opnext CEO Opts Out

Chief executive Gilles Bouchard resigns after a down year for the stock, prompting the return of Harry Bosco

Craig Matsumoto, Editor-in-Chief, Light Reading

December 10, 2010

1 Min Read
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.

  • 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.

{videoembed|174469} — Craig Matsumoto, West Coast Editor, Light Reading

About the Author(s)

Craig Matsumoto

Editor-in-Chief, Light Reading

Yes, THAT Craig Matsumoto – who used to be at Light Reading from 2002 until 2013 and then went away and did other stuff and now HE'S BACK! As Editor-in-Chief. Go Craig!!

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