LightPath Technologies Appoints Vice President of Operations
LightPath Technologies (NASDAQ: LPTH) announced the appointment of Peter Greif as Vice President of Operations, effective April 30, 2021. Greif, with over 17 years of experience at Jabil Inc., will enhance operational performance and profitability. His role involves managing high-volume manufacturing, aligning sales and engineering teams to foster growth. This leadership change aims to strengthen LightPath's operational excellence, crucial for their global expansion strategy.
- Appointment of Peter Greif brings 17 years of experience from Jabil Inc.
- Focus on improving operational performance and profitability.
- Alignment of sales, operations, and manufacturing teams expected to drive growth.
- The VP of Operations position was vacant for nearly a year, indicating potential operational disruptions.
ORLANDO, FL / ACCESSWIRE / May 3, 2021 / LightPath Technologies, Inc. (NASDAQ:LPTH) ("LightPath," the "Company," or "we"), a leading vertically integrated global manufacturer and integrator of proprietary optical and infrared components and high-level assemblies, today announced the appointment of Peter Greif to the position of Vice President, Operations, effective April 30, 2021. For more than 17 years, Mr. Greif held leading operational positions with Jabil Inc. (JBL), one of the largest manufacturing solutions providers based in Florida with over 260,000 employees worldwide across 100 locations in 30 countries.
"We are very pleased to announce the addition of Peter Greif to our management team," said Sam Rubin, President and Chief Executive Officer of LightPath. "This appointment follows the strengthening of our leadership team announced earlier this month and our roadmap for continued global expansion. The position as head of our operations had been open for nearly a year and we are excited to have filled this role with a person who possesses significant global operational expertise, from lean operational performance implementations to supply chain management to reengineering production methodologies. Our operational excellence needs to be focused on the quality of our expanding global production and the profitability we generate to drive future growth."
The VP of Operations position at LightPath involves the management of high-volume manufacturing of components and assemblies with an emphasis on molded and diamond turned optics. Mr. Greif will be responsible for aligning sales, operations, manufacturing, and engineering teams to proactively drive top line growth and profitability within all global business lines.
Mr. Greif will be based at LightPath's headquarters in Orlando, FL. Major strengths include operations leadership experience within multi-industry, multi-product, international, and turn-around operations. Throughout his career, he has focused on operational performance initiatives, driving improved results and workforce development. As a proponent of cultural change management, Mr. Greif strives to increase quality and productivity through Lean and Six Sigma techniques and personal involvement. He received an MBA in Operations and Finance from Carnegie Mellon University, an MS in Industrial Engineering from Lehigh University, and an undergraduate degree in Industrial Engineering from Clemson University.
About LightPath Technologies
LightPath Technologies, Inc. (NASDAQ: LPTH) is a leading global, vertically integrated provider of optics, photonics and infrared solutions for the industrial, commercial, defense, telecommunications, and medical industries. LightPath designs and manufactures proprietary optical and infrared components including molded glass aspheric lenses and assemblies, infrared lenses and thermal imaging assemblies, fused fiber collimators, and proprietary Black DiamondTM ("BD6") chalcogenide-based glass lenses. LightPath also offers custom optical assemblies, including full engineering design support. The Company is headquartered in Orlando, Florida, with manufacturing and sales offices in Latvia and China.
LightPath's wholly-owned subsidiary, ISP Optics Corporation, manufactures a full range of infrared products from high performance MWIR and LWIR lenses and lens assemblies. ISP's infrared lens assembly product line includes athermal lens systems used in cooled and un-cooled thermal imaging cameras. Manufacturing is performed in-house to provide precision optical components including spherical, aspherical and diffractive coated infrared lenses. ISP's optics processes allow it to manufacture its products from all important types of infrared materials and crystals. Manufacturing processes include CNC grinding and CNC polishing, diamond turning, continuous and conventional polishing, optical contacting and advanced coating technologies.
For more information on LightPath and its businesses, please visit www.lightpath.com.
Forward-Looking Statements
This press release includes statements that constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "forecast," "guidance," "plan," "estimate," "will," "would," "project," "maintain," "intend," "expect," "anticipate," "prospect," "strategy," "future," "likely," "may," "should," "believe," "continue," "opportunity," "potential," and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters, and include, for example, statements related to the expected effects on the Company's business from the COVID-19 pandemic. These forward-looking statements are based on information available at the time the statements are made and/or management's good faith belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in or suggested by the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, the duration and scope of the COVID-19 pandemic and impact on the demand for the Company products; the ability of the Company to obtain needed raw materials and components from its suppliers; actions governments, businesses, and individuals take in response to the pandemic, including mandatory business closures and restrictions on onsite commercial interactions; the impact of the pandemic and actions taken in response to the pandemic on global and regional economies and economic activity; the pace of recovery when the COVID-19 pandemic subsides; general economic uncertainty in key global markets and a worsening of global economic conditions or low levels of economic growth; the effects of steps that the Company could take to reduce operating costs; the inability of the Company to sustain profitable sales growth, convert inventory to cash, or reduce its costs to maintain competitive prices for its products; circumstances or developments that may make the Company unable to implement or realize the anticipated benefits, or that may increase the costs, of its current and planned business initiatives; and those factors detailed by LightPath Technologies, Inc. in its public filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended June 30, 2020. Should one or more of these risks, uncertainties, or facts materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by the forward-looking statements contained herein. Accordingly, you are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they are made. Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Except as required under the federal securities laws and the rules and regulations of the Securities and Exchange Commission, we do not have any intention or obligation to update publicly any forward-looking statements, whether as a result of new information, future events, or otherwise.
Investor Relations Contact for LightPath:
Jordan Darrow
Darrow Associates, Inc.
Tel: 512-551-9296
jdarrow@darrowir.com
SOURCE: LightPath Technologies, Inc.
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