Sunrise Telecom’s CFO departs
Sunrise Telecom, which makes test and measurement equipment for cable, telecom and wireless networks, announced today that CFO Rick Kent has left the company.
Sunrise said Kent’s departure was in line with the company's recent decision to de-register as a public company with the Securities and Exchange Commission.
"Rick has been a valuable leader, and we thank him for his guidance and commitment to the company for the past four-plus years," said Bahaa Moukadam, Sunrise’s CEO. "He was instrumental in guiding Sunrise through a tough restatement process and getting us current with SEC reporting. He helped the company drive down operating expenses from more than $18 million per quarter in 2007 to $9 million per quarter in 2009 and contributed significantly to our strategic reorganization."
Lyron Bentovim, chief operating officer, will also assume the position of CFO. Jim Walker, corporate controller, will be promoted to chief accounting officer.
"Sunrise Telecom's needs for financial guidance and expertise have changed significantly since its de-registration as a public company with the SEC," said Kent. "As a result, while I will continue to support the company to ensure a smooth transition, I will begin looking for opportunities that can leverage my knowledge, both with public companies or those planning to go public, as well as boards of public or soon-to-be public companies that may need financial expertise on their audit committees."