MRV Communications Inc. on Monday said it appointed Stephen Garcia as chief financial officer and Beth Arnold as vice president of finance.
The Chatsworth provider of telecom equipment and services said Garcia and Arnold replace Chris King and Blima Tuller, respectively, whose last day was Friday. Garcia has more than 20 years of financial and executive management experience in telecommunications and other sectors. Arnold has more than 15 years of financial management experience.
The company over the weekend announced that it had closed the sale of its CES Creative Electronic Systems SA subsidiary to a consortium of European private equity firms, led by Vinci Capital SA. The group paid $28.4 million, with expected net proceeds of $24.5 million.
“This sale will allow us to focus on our core business units, and we are steadfast in our efforts to drive shareholder value and enhance productivity,” Chief Executive Barry Gorsun in a statement.
Shares were unchanged at $1.05 in midday trading on the Pink Sheets.