Infinera Appoints Roop Lakkaraju to Board of Directors

Rhea-AI Summary

Infinera (NASDAQ: INFN) announced the appointment of Roop Lakkaraju as a new board member and audit committee member, effective February 16, 2022. Lakkaraju, CFO of Benchmark Electronics, brings over 25 years of financial management experience. His addition aims to enhance Infinera's strategic vision and shareholder value. Concurrently, board members Tom Fallon and Kambiz Hooshmand resigned, and Marcel Gani and Mark Wegleitner will not seek re-election, reducing the board from 12 to 11 members. This reshaping of the board is expected to foster diversity and lower average tenure.

Positive

• Roop Lakkaraju brings 25+ years of financial management experience, potentially strengthening board expertise.
• Appointment may enhance strategic direction and focus on shareholder value.

Negative

• Resignation of experienced board members may lead to continuity concerns.
• Reduction in board size could impact governance and oversight.

SAN JOSE, Calif., Feb. 16, 2022 (GLOBE NEWSWIRE) -- Infinera (NASDAQ: INFN) today announced the appointment to its board of directors of Roop Lakkaraju, Chief Financial Officer of Benchmark Electronics, Inc. (NYSE: BHE), effective February 16, 2022. Mr. Lakkaraju will serve as a member of Infinera’s audit committee.

“We are thrilled to have Roop join our board of directors,” said George Riedel, Infinera Chairman of the Board. “By bringing more than 25 years of management experience in overall financial strategy, including as a public company chief financial officer, and his diversity of thinking and perspective, Roop will be a great asset to Infinera as we continue to focus every day on building value for our shareholders.”  

Mr. Lakkaraju, 51, has been Executive Vice President, Chief Financial Officer of Benchmark Electronics, Inc. since January 2018. From February 2017 to January 2018, he served as Chief Financial Officer of Maana, Inc., an enterprise software company that pioneered an Artificial Intelligence-driven knowledge platform. From October 2013 to February 2017, he served as Chief Operating Officer and Chief Financial Officer of Support.com, a provider of cloud-based software and services for technology support. From July 2011 to October 2013, he was Chief Financial Officer of Quantros, Inc., a provider of enterprise SaaS-based solutions and information services that advance healthcare quality and safety performance. Prior to that he held executive financial and operational roles at 2Wire, Solectron Corporation, and Safeguard Scientifics. He began his career in 1993 as an auditor with Grant Thornton before joining PricewaterhouseCoopers in their Audit and Business Advisory Services. Mr. Lakkaraju holds a B.S. in Business Administration from San Jose State University.

“This is an exciting time to join the board of Infinera, a recognized leader in optical technology innovation,” said Lakkaraju. “I look forward to strategically working with the team to continue developing and delivering transformational open optical networking solutions to its growing base of global customers.”

In addition, Infinera announced the resignation from Infinera’s board of each of Tom Fallon and Kambiz Hooshmand, effective February 16, 2022 and the decision by each of Marcel Gani and Mark Wegleitner to not stand for re-election as Class III directors at Infinera’s 2022 annual meeting of shareholders. In connection with Mr. Lakkaraju’s appointment and the resignations of Messrs. Fallon and Hooshmand, Infinera’s board has now decreased from 12 to 11 members. Mr. Lakkaraju will serve as a Class I director with a term expiring at the 2023 annual meeting of shareholders.

“I also wish to recognize the countless contributions to Infinera of both Tom and Kambiz over the years and extend to them the deepest thanks of our board and management team for their valuable service to the company,” continued Riedel. “Following these changes, our board will be smaller, more diverse, and reflect lower average director tenure.”

Contacts:

Infinera Media:
Anna Vue
Tel. +1 (916) 595-8157
avue@infinera.com

Infinera Investors:
Amitabh Passi
Tel. +1 (669) 295-1489
apassi@infinera.com

About Infinera
Infinera is a global supplier of innovative open optical networking solutions that enable carriers, cloud operators, governments, and enterprises to scale network bandwidth, accelerate service innovation, and automate network operations. Infinera solutions deliver industry-leading economics and performance in long-haul, submarine, data center interconnect, and metro transport applications. To learn more about Infinera, visit www.infinera.com, follow us on Twitter and LinkedIn, and subscribe for updates.

Infinera and the Infinera logo are registered trademarks of Infinera Corporation.

FAQ

Who is Roop Lakkaraju and what is his role at Infinera?

Roop Lakkaraju is the Chief Financial Officer of Benchmark Electronics and has been appointed to Infinera's board as a member of the audit committee.

What changes occurred in Infinera's board of directors on February 16, 2022?

On February 16, 2022, Roop Lakkaraju joined the board, while Tom Fallon and Kambiz Hooshmand resigned, and Marcel Gani and Mark Wegleitner chose not to stand for re-election.

How does Roop Lakkaraju's appointment impact Infinera?

His appointment is expected to bring fresh perspectives and strengthen the company's focus on financial strategy and shareholder value.

What is the significance of the board size reduction at Infinera?

The board size reduction from 12 to 11 members may enhance decision-making efficiency and promote diversity within governance.