Lumentum Announces Appointment of New Board Member

Rhea-AI Summary

Lumentum Holdings Inc. has appointed Pamela Fletcher as an independent member of its Board of Directors, expanding the board to nine members, eight of whom are independent. Fletcher, with over 30 years of experience in the automotive and transportation sectors, is currently the Chief Sustainability Officer at Delta Air Lines. Her expertise in sustainability and innovation is expected to benefit Lumentum's growth strategies in photonic solutions, particularly in cloud computing and advanced manufacturing. CEO Alan Lowe expressed confidence that Fletcher will enhance shareholder value as they capitalize on emerging trends.

Positive

• Appointment of Pamela Fletcher enhances board expertise with a focus on sustainability and innovation.
• Fletcher's extensive background in high-growth businesses and market expansion could drive future growth.
• Expected contributions to Lumentum's strategies in cloud computing and advanced manufacturing.

Negative

• Potential concerns about continuity in leadership and strategic direction due to new board member integration.

SAN JOSE, Calif., Feb. 23, 2023 /PRNewswire/ -- Lumentum Holdings Inc. ("Lumentum"), a market-leading designer and manufacturer of innovative optical and photonic products, today announced the appointment of Pamela Fletcher as an independent member of the Company's Board of Directors, effective immediately. This election expands the membership to nine members, eight of whom are independent.

"I am excited to welcome Pam to the Lumentum Board," said President and Chief Executive Officer, Alan Lowe. "She brings a wealth of knowledge and expertise in key sectors of interest to us, as well a fresh perspective on critical growth levers such as sustainability and innovation. I am confident that she will provide valuable insights as we execute against our long-term growth strategies and expand our global footprint."

"Lumentum has a dynamic portfolio of innovative photonic solutions that underpin the explosive growth we are seeing in applications for cloud computing, advanced manufacturing, and 3D sensing. All are shaping the way people connect, create, and interact," said Fletcher. "I look forward to working together with the senior leadership team to capitalize on these trends and continue to increase shareholder value."

Fletcher is a seasoned executive with over three decades of experience across the automotive and transportation industries, with a proven track record of leading innovation, creating new, high-growth businesses, driving market expansion, and growing new revenue streams.

Fletcher is currently Senior Vice President, Chief Sustainability Officer & Corporate Innovation at Delta Air Lines, Inc., where she leads Delta's Sustainability and Innovation organizations in service of the company's net-zero future. Prior to Delta Air Lines, she enjoyed a fifteen-year career at General Motors, where she held senior leadership positions such as Vice President of Global Innovation and Vice President of Electric Vehicles, among other roles.

Fletcher is a well-known innovator in the transportation sector, having been named in Motor Trend's 2018 and 2019 "Power List"; on Automotive News's 2020 list of "100 Leading Women in the North American Auto Industry;" and on Crain's 2021 list of "100 Most Influential Women". In addition to her role at Delta, she serves on the Board of Advisors for the College of Engineering at the University of North Carolina Charlotte. 

Fletcher holds a Bachelor of Engineering degree from Kettering University and a Master of Engineering degree from Wayne State University. She has also completed Executive Education programs at Northwestern University's Kellogg School of Management, Harvard Business School, and the Stanford University Graduate School of Business.

About Lumentum

Lumentum (NASDAQ: LITE) is a market-leading designer and manufacturer of innovative optical and photonic products enabling optical networking and laser applications worldwide. Lumentum optical components and subsystems are part of virtually every type of telecom, enterprise, and data center network. Lumentum lasers enable advanced manufacturing techniques and diverse applications including next-generation 3D sensing capabilities. Lumentum is headquartered in San Jose, California with R&D, manufacturing, and sales offices worldwide. For more information, visit www.lumentum.com and follow Lumentum on LinkedIn, Twitter, Facebook, Instagram, and YouTube.

Contact Information:
Investors:            Kathy Ta, 408-750-3853; investor.relations@lumentum.com
Media:                 Christina Itzkowitz, 781-929-0565; media@lumentum.com

Category: Financial

View original content:https://www.prnewswire.com/news-releases/lumentum-announces-appointment-of-new-board-member-301755094.html

SOURCE Lumentum

FAQ

What is the significance of Pamela Fletcher's appointment to Lumentum's board?

Pamela Fletcher's appointment is significant as it brings expertise in sustainability and innovation, aligning with Lumentum's growth strategies.

How many members are there on Lumentum's Board of Directors after the latest appointment?

After the appointment of Pamela Fletcher, Lumentum's Board of Directors now has nine members.

What are Pamela Fletcher's qualifications for joining Lumentum's board?

Pamela Fletcher has over 30 years of experience in the automotive sector and currently leads sustainability and innovation at Delta Air Lines.

What impact is Pamela Fletcher expected to have on Lumentum's business?

Fletcher is expected to provide valuable insights that could enhance shareholder value and support growth in key sectors like cloud computing and advanced manufacturing.