Company News »

MRV Names Mark J. Bonney Executive Vice President and Chief Financial Officer

Business Wire
Share on StockTwits
Published on

MRV Communications (NASDAQ:MRVC) , a global provider in converged packet
and optical solutions that empower
the optical edge and network integration services for leading
communications service providers
, announced it named Mark J. Bonney,
60, as its executive vice president and chief financial officer. Mr.
Bonney, who has been serving as a director of MRV since April 2013, will
be replacing Stephen Garcia as the Company’s CFO, effective August 25,
2014. Bonney will report to CEO David Stehlin and remain on the board.

Stehlin said, “I am thrilled to welcome Mark to the MRV management team,
and I know that his extensive financial, managerial and strategic skills
are exactly what we need now. We have made great progress in
transforming MRV, and Mark will be an invaluable member of our
management team as we execute on the next phase of our strategic plan. I
would also like to express our appreciation to Steve Garcia and wish him
all the best in his future endeavors.”

Bonney added, “I am excited to join Dave and the MRV team at this
important time in the development of the company. With our recent focus
on revitalizing the optical communications equipment business and the
release of several critical new products, MRV is well positioned for
growth in the coming years.”

Ken Traub, chairman of the board of MRV, commented, “Mark is an
extremely talented executive and we are confident that he will
significantly strengthen the capabilities of the MRV management team at
a critical time. Dave, Mark and the rest of the MRV management team have
the strong support of the board as they continue to transition the
business, execute on our strategic growth plan and capitalize on
opportunities to maximize shareholder value.”

Mark J. Bonney

Mr. Bonney has been on the MRV board of directors since April 2013. He
also has served as the president and CEO of On Board Advisors, LLC, a
strategic and financial advisory firm since January 2013. From March
2010 to December 2012, Mr. Bonney was EVP and CFO of Direct Brands,
Inc., a leading direct-to-consumer marketing company. From 2005 to 2008,
he was EVP and CFO of American Bank Note Holographics, Inc. (ABNH), a
publicly-traded, leading global supplier of optical security devices. He
worked with MRV Chairman Kenneth Traub, who was President and CEO of
ABNH, to implement the turnaround, growth and 2008 sale of the business
to JDSU. These efforts earned Mr. Bonney the CFO of the year award for
best turnaround manager by NJ Biz. He remained at JDSU through
2010 as the VP and general manager of its authentication solutions
group. From 2002 to 2005, Mr. Bonney was an independent director of ABNH
and several private companies and provided interim leadership at a
number of companies. Prior to 2002, he held senior financial and
operating roles: president, COO and director at Axsys Technologies,
Inc., a publicly traded leading manufacturer of highly sophisticated
components and subsystems used in aerospace, defense, data storage,
medical and other high technology markets; and CFO and VP of operations
at Zygo Corporation, a Nasdaq-traded manufacturer of metrology
measurement and control systems and optical components used in
semiconductor, data storage and other high technology markets.

Mr. Bonney is currently a director of Sigma Designs, Inc., Nasdaq-traded
provider of semiconductor solutions used to deliver entertainment and
control throughout the home, where he has served since August 2012, and
of Zix Corporation, a Nasdaq-traded market leader in email encryption
services, where he has served since January 2013. Mr. Bonney holds a
B.S. in Business Administration and Economics from Central Connecticut
State University and an M.B.A. in Finance from the University of
Hartford.

About MRV Communications

MRV Communications is a global provider in converged packet and optical
solutions that empower the optical edge and network integration services
for leading communications service providers. For more than two decades,
the most demanding service providers, Fortune 1000 companies and
governments worldwide have trusted MRV to provide best-in-class
solutions and services for their mission-critical networks. We help our
customers overcome the challenge of orchestrating the ever-increasing
need for capacity while improving service delivery and lowering network
costs for critical applications such as cloud connectivity,
high-capacity business services, mobile backhaul and data center
connectivity. For more information please visit www.mrv.com.

Share on StockTwits