WASHINGTON (dpa-AFX) - Infinera Corp. (INFN) Wednesday said its co-founder Drew Perkins is stepping down as Infinera's chief technology officer to pursue other opportunities, and would be replaced by another co-founder Dave Welch.
Welch is currently executive vice president, chief strategy officer, and a member of the Board. Welch was co-CTO for the four years after the company was founded.
Perkins said,' Helping to build Infinera, our world-class team, our revolutionary technologies and products, and much of the optical network underlying the Internet over the past eleven years has been one of the greatest experiences of my life. Infinera is well positioned for the next stage of their growth with continued investment in the DTN and the upcoming release of the DTN-X platform.'
Tom Fallon, Infinera CEO, said,' Drew played a significant role in starting and shaping the company over the last decade and I wish him the best in his future endeavors.'
Perkins would continue to support Infinera in a technical advisory role, commencing in January.
Sunnyvale, California-headquartered Infinera specializes in Digital Optical Networking systems that are designed to continually improve the economics of optical networking by combining the speed of optics with the simplicity of digital.
INFN is currently trading at $6.23, down $0.17 or 2.66%, on the Nasdaq. Over the past year, the stock traded in a range of $5.91 - $11.15.
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