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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 24, 2011
AVIAT NETWORKS, INC.
(Exact name of registrant as specified in its charter)
| Delaware | 001-33278 | 20-5961564 | ||
| (State or other jurisdiction of incorporation) |
(Commission File Number) |
(I.R.S. Employer Identification No.) |
Address of principal executive offices: 5200 Great America Parkway, Santa Clara, CA 95054
Registrant’s telephone number, including area code: 408-567-7100
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
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Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Appointment of Certain Officers.
| (b) | On August 24, 2011, Aviat Networks, Inc. (the “ Company ”) announced that Thomas L. Cronan, III, Senior Vice President and Chief Financial Officer, has resigned from his position effective immediately. Under the terms of his existing employment agreement with the Company, Mr. Cronan will not receive severance payments or other termination benefits upon resignation. The company has begun the process of identifying a successor for this position. |
Mr. John Madigan, age 53, has been appointed to serve as interim Chief Financial Officer, effective August 25, 2011. In connection with this interim appointment, there are no changes to Mr. Madigan’s Employment Agreement, dated December 30, 2010, which was previously disclosed by the Company in, and attached as an exhibit to, a Current Report on Form 8-K filed on January 4, 2011. Mr. Madigan joined the Company in January of 2011 and since has served as its Vice President, Corporate Controller and Principal Accounting Officer. Prior to joining Aviat Networks, he served as Vice President, Corporate Controller of Redback Networks, Inc., an Internet network equipment provider, and then as Vice President, Finance after Ericsson’s acquisition of Redback in January 2007. From 2001 to 2006, Mr. Madigan served as Controller of Siebel Systems, Inc., a customer relationship management application company which was acquired by Oracle Corporation in 2006. Mr. Madigan is a Certified Public Accountant and holds a bachelor degree in Business from Santa Clara University.
A copy of the related press release is filed as Exhibit 99.1 to this Form 8-K and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
The following exhibit is furnished herewith:
| 99.1 | Press Release, issued by Aviat Networks, Inc. on August 24, 2011 |
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Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| AVIAT NETWORKS, INC. | ||||
| August 24, 2011 | By: | /s/ Meena Elliott | ||
| Name: | Meena Elliott | |||
| Vice President, General Counsel and Secretary | ||||
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EXHIBIT INDEX
| Exhibit No. |
Description | |
| 99.1 | Press Release, issued by Aviat Networks, Inc. on August 24, 2011 | |
Exhibit 99.1
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| www.aviatnetworks.com |
Aviat Networks Announces Financial Management Change
SANTA CLARA, Calif., August 24, 2011 — Aviat Networks, Inc. (NASDAQ: AVNW), a leading expert in wireless transmission solutions, today announced the resignation of Thomas L. Cronan, III as senior vice president and chief financial officer. The company has begun the process of identifying a successor for this position.
“It was a difficult decision to leave Aviat Networks,” said Cronan, who has been chief financial officer of the company since May 2009. “I am leaving behind a strong finance team that will help assist the Company going forward and I wish Mike the best in his new role as CEO.”
“Tom’s leadership will be missed by the company,” said Michael Pangia, president and chief executive officer of Aviat Networks. “He has contributed to the company’s restructuring and turnaround over the last two years at both the financial and strategic levels. His efforts have resulted in a strong balance sheet that will enable the company to move forward to achieve its long term strategic objectives. I would like to express my gratitude to Tom and wish him well in his future endeavors.”
Mr. Cronan joined the Company in May of 2009 and since has served as its senior vice president and chief financial officer responsible for financial reporting, human resources, facilities and investor relations. John Madigan, vice president, corporate controller and principal accounting officer will serve as the acting CFO until a permanent CFO is named.
About Aviat Networks
Aviat Networks, Inc. is a leader in wireless transmission solutions. We apply innovation and IP networking expertise toward building a carrier class foundation for future mobile and fixed broadband networks. With more than 750,000 systems installed around the world, Aviat Networks has built a reputation as a leader in offering best-of-breed solutions including LTE-ready microwave backhaul and a complete portfolio of service and support options to public and private telecommunications operators worldwide. With a global reach and local presence in more than 46 countries, Aviat Networks works by the side of its customers allowing them to quickly and cost effectively seize new market and service opportunities. Aviat Networks, formerly Harris Stratex Networks Inc., is headquartered in Santa Clara, California and is listed on NASDAQ (AVNW). For more information, please visit www.aviatnetworks.com or join the dialogue at www.twitter.com/aviatnetworks.
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Media Contact:
Cynthia Johnson, Aviat Networks, (408) 550-3321, cynthia.johnson@aviatnet.com