Viavi Solutions CEO Tom Waechter stepped down


Tom Waechter, JDSU

Test and measurement company Viavi Solutions (earlier known as JDSU) said its CEO Tom Waechter has stepped down.

Its chairman Richard E Belluzzo will be the interim president and chief executive officer. Viavi Solutions will be looking for a new CEO.

Tom Waechter, who worked with JDSU for more than 6-years, will be pursuing other business and personal interests.

On August 1, JDSU officially announced separating of JDSU into two public companies — Viavi Solutions and Lumentum.

Meanwhile, Viavi said its net revenue for fiscal 2015 fourth quarter fell to $427.7 million, with net loss of $37.3 million against $448.6 million revenue and $25.4 million net loss in fiscal 2014 fourth quarter.

Viavi net revenue for fiscal 2015 dropped to $1,709.1 million, with net loss of $85.3 million from $1,743.2 million, with net loss of $17.8 million.

The testing solutions company generated 48 percent revenue from Americas, 32.8 percent from Asia Pacific and 19.2 percent from EMEA customers during the fourth quarter of fiscal 2015.

“While we face some near term challenges ahead in our Network and Service Enablement businesses, our integrated NE and SE solutions platform business strategy should allow us to benefit from positive industry macro trends as carriers continue to migrate to software-driven network solutions,” said Rick Belluzzo, interim president and CEO of Viavi.

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