Ciena Announces Lawton W. Fitt as Independent Chair of Board of Directors
December 12 2024 - 7:01AM
Business Wire
Ciena® Corporation (NYSE: CIEN) announced the appointment of
Lawton W. Fitt as independent Chair of Ciena's Board of Directors,
effective December 11, 2024. Concurrently, Patrick H. Nettles,
Ph.D., stepped down as Executive Chair, in connection with his
decision not to stand for re-election at the end of his term at
Ciena’s 2025 Annual Meeting of Stockholders, at which time he will
retire. Dr. Nettles will continue in his role as a member of
Ciena’s Board of Directors until that time and provide support to
Ms. Fitt in her transition.
Lawton W. Fitt brings significant professional experience as
well as a deep familiarity with Ciena's strategy, business, and
technology. She has served as a Director of Ciena since November
2000, and as chair of Ciena’s Audit Committee from October 2004
through the end of December 2024. From October 2002 to March 2005,
Ms. Fitt served as Director of the Royal Academy of Arts in London.
From 1979 to October 2002, Ms. Fitt was an investment banker with
Goldman Sachs & Co., where she was a partner from 1994, and a
managing director from 1996 to October 2002. Ms. Fitt holds a
bachelor of arts degree from Brown University and a M.B.A. degree
from the Darden School of Business at the University of Virginia.
She also currently serves on the board of directors of The Carlyle
Group, L.P. and The Progressive Corporation, and previously of
Thomson Reuters.
Ciena President and CEO Gary Smith expressed his enthusiasm and
confidence in the appointment of Ms. Fitt as Chair of the Board of
Directors, stating: "Lawton is an exceptional leader with broad
public company experience, an understanding of growing technology
businesses, and a track record of driving growth and delivering
shareholder value. As Chair, she will help further strengthen
Ciena's leadership position in a rapidly evolving networking
industry."
Joining Ciena in 1994 in its infancy, Dr. Nettles has served the
Company with distinction for thirty years and played a leading role
in the evolution and growth of the business into an industry
leader. He has served as Ciena's Executive Chair of the Board of
Directors since May 2001. From October 2000 to May 2001, Dr.
Nettles was Chair of the Board of Directors and Chief Executive
Officer of Ciena, and he was President and Chief Executive Officer
from April 1994 to October 2000.
Smith also commented on Dr. Nettles' decision, stating, "Pat
played an instrumental role in laying the foundation of the company
during our formative years, and further helped establish Ciena as a
global industry leader. He will leave a lasting impact on the
company and the industry at-large, and we are extremely grateful
for his many contributions."
About Ciena
Ciena (NYSE: CIEN) is a global leader in networking systems,
services, and software. We build the most adaptive networks in the
industry, enabling customers to anticipate and meet ever-increasing
digital demands. For three-plus decades, Ciena has brought our
humanity to our relentless pursuit of innovation. Prioritizing
collaborative relationships with our customers, partners, and
communities, we create flexible, open, and sustainable networks
that better serve all users—today and into the future. For updates
on Ciena, follow us on LinkedIn, Twitter, the Ciena Insights blog,
or visit www.ciena.com.
Note to Ciena Investors
You are encouraged to review the Investors section of our
website, where we routinely post press releases, SEC filings,
recent news, financial results, and other announcements. From time
to time we exclusively post material information to this website
along with other disclosure channels that we use. This press
release contains certain forward-looking statements that are based
on our current expectations, forecasts, information, and
assumptions. These statements involve inherent risks and
uncertainties. Actual results or outcomes may differ materially
from those stated or implied, because of risks and uncertainties,
including those detailed in our most recent annual and quarterly
reports filed with the SEC. Forward-looking statements include
statements regarding our expectations, beliefs, intentions or
strategies and can be identified by words such as "anticipate,"
"believe," "could," "estimate," "expect," "intend," "may,"
"should," "will," and "would" or similar words. Ciena assumes no
obligation to update the information included in this press
release, whether as a result of new information, future events or
otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20241211247158/en/
Press Contact: Jamie Moody Ciena Corporation +1 (214)
995-8035 pr@ciena.com
Investor Contact: Gregg Lampf Ciena Corporation +1 (410)
694-5700 ir@ciena.com
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