Optical transport systems vendor MRV Communications (NASDAQ:MRVC) has made a pair of changes at the top of its management roster. Mark J. Bonney, 60, is now the company's president and CEO, while Stephen Krulik, 42, has been promoted from vice president of finance to replace Bonney as chief financial officer.
Besides serving as executive vice president and CFO since August 2014, Bonney has been a director of MRV since April 2013. He replaces David Stehlin, who the company says resigned as an officer and director of MRV "to pursue other interests." Stehlin was appointed CEO in February 2013, after joining the company in April 2011. Stehlin was quoted as wishing the company well on his way out the door in the press release announcing MRV's new leadership
Said MRV Chairman Kenneth Traub via the same release, "Mark has an impressive record of accomplishment in managing turnarounds, growth, and strategic transactions. The entire Board is confident he brings the right skills and discipline to execute our strategic plans focused on maximizing shareholder value. We would like to thank David Stehlin and wish him well in all of his future endeavors."
"Since taking on the role of CFO four months ago I have become increasingly confident in our people, our technology and our product and service offerings of both our Network Integration and Network Equipment businesses," commented Bonney. "I am excited to expand my role and work more closely with an excellent management team as we drive the MRV strategy forward."
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