- Push-out Score determined
- After almost 11 years in the position
- David Heard taking over
- Fallon made a lengthy statement and said 208 words
(exechange) — Sunnyvale, California, August 6, 2020 — Tom Fallon, chief executive of Infinera, leaves. As announced by Infinera Corp. in a news release published on Wednesday, August 5, 2020 and in a regulatory filing published on Thursday, August 6, 2020, Thomas J. (Tom) Fallon leaves his post as chief executive officer at the manufacturer of digital optical network systems after almost 11 years in the role, effective by the end of 2020.
Tom Fallon’s duties as CEO will be taken over by David W. Heard, currently Chief Operating Officer of Infinera Corp.
“The right time”
Tom Fallon’s departure from the CEO post is explained as follows. Fallon said: “When David joined Infinera three years ago, our objective was to bring onboard a Chief Operating Officer who would be positioned to take over as CEO at the right time.”
Precise information regarding Tom Fallon’s future plans was not immediately available.
Infinera said: “Tom Fallon will be stepping down as Infinera’s CEO and David Heard, the Company’s Chief Operating Officer, will be succeeding him. This transition is expected to take place by the end of 2020 on a date to be determined. Mr. Fallon, in his 17th year with Infinera and 11th as CEO, will remain on the Board of Directors.”
Infinera further said: “Thomas J. Fallon, the Company’s Chief Executive Officer (the “CEO”), will transition from his position as CEO and David W. Heard, the Company’s Chief Operating Officer, will transition into the position of CEO by the end of the year on a date yet to be determined.”
Share price decline
The announcement follows a decline in Infinera Corp.’s share price of 63% since August 2015.
Chaired by Kambiz Y. Hooshmand
Infinera Corp. is chaired by Kambiz Y. Hooshmand.
Kambiz Hooshmand has been a member of the Company’s Board of Directors since December 2009 and has served as Chairman of the Company’s Board of Directors since October 2010.
In the position of CEO since 2010
Tom Fallon became CEO of the Company in 2010.
His bio reads as follows:
- CEO of Infinera (January 2010 to present); President (January 2010 to June 2013); Chief Operating Officer (“COO”) (October 2006 to December 2009; Vice President of Engineering and Operations (April 2004 to September 2006)
- Vice President, Corporate Quality and Development Operations at Cisco Systems, Inc., a networking and telecommunications company (August 2003 to March 2004); served in a variety of functions at Cisco, including General Manager of the Optical Transport Business Unit and Vice President of Service Provider Manufacturing (March 1991 to August 2003)
- Served in various manufacturing roles at Sun Microsystems and Hewlett Packard
- Hercules Capital, Inc., a public specialty finance company (present)
- Engineering Advisory Board of the Cockrell School at the University of Texas (present).
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding the management change on a scale of 0 to 10.
exechange reached out to Infinera and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 32.2020 ($).