Somera Announces Appointment of New CEO; Further Develops Management Depth; Prepares for Global Growth
SANTA BARBARA, Calif.–(BUSINESS WIRE)–Sept. 17, 2001
Somera Communications (Nasdaq:SMRA), a leading provider of telecommunications infrastructure equipment and support services, today announced the appointment of Rick Darnaby, as its new President and Chief Executive Officer.
Dan Firestone, founder and former CEO, will remain as Executive Chairman of the Board, and will continue to participate in the strategic direction of the company, as well as playing an ongoing advisory role to the new CEO.
“After a thorough search, we are delighted to announce the appointment of Rick Darnaby to lead and strengthen our management team,” said Firestone. “We believe that Rick’s tremendous depth of experience and demonstrated ability to build multibillion-dollar businesses on a global scale makes him an excellent choice and should provide the catalyst to fully capitalize on the enormous opportunities ahead. Our shared vision for the Telecommunications Infrastructure Support Services industry should strengthen Somera’s ability to execute on growth strategies which include further development of customer markets, expanding internationally, enhancing services offerings, and exploring strategic acquisitions.”
“Somera is a great example and benchmark of what a truly market-focused business can do,” Darnaby said. “Their obsession throughout the organization with customer service and total satisfaction is very impressive. Dan Firestone and the employees of Somera have identified an industry need, developed a business proposition, and built a successful company. I believe this concept is highly scaleable and will work in broader geographies, in more market segments, and with a broader product portfolio. I am thrilled to be a part of this exciting opportunity.”
Darnaby brings a wealth of executive-level experience and a proven record of success from Motorola and Monsanto Co.
At Motorola, Darnaby served in several capacities, most recently spearheading the company’s largest global area for the personal communications businesses, as Regional President, Senior Vice President and General Manager of the EMEA Region (Europe, Middle East and Africa). In this capacity, he led a multibillion-dollar business with 10,000 employees, three technology centers, three large manufacturing facilities, and offices in most major European cities.
Prior to this, as Senior Vice President and General Manager of Motorola’s Consumer Solutions Group, Darnaby was responsible for the global commercial strategy and execution for the personal communications sector, as well as Group General Manager for three global business units.
Immediately prior to Motorola, Darnaby served as President of the NutraSweet Group, a subsidiary of Monsanto Co., where his organization built a 90 percent global market share while simultaneously generating record returns and earnings growth. He also served as President and CEO of Monsanto Canada Inc.
Darnaby holds a Bachelor of Science and Master of Business Administration degrees from Oklahoma State University, and an Advanced Management Degree from INSEAD (Institute of European Administration) in France.
About Somera Communications
As a leading global provider of telecommunications infrastructure support services, Somera configures, engineers and deploys wireless, wireline and data networking solutions that enable carriers to build, expand and maintain their networks faster and more cost-effectively. Somera is vendor independent and offers a broad range of infrastructure solutions from more than 300 manufacturers. With Somera OneSource(SM) Services, the company provides a complete suite of services for Network Design, Installation and Network Maintenance. Founded in 1995, Somera has developed an impressive base of more than 1,100 customers worldwide, including the industry leaders from each segment of the telecommunications market. Visit Somera on the Web at www.somera.com.
Except for historical information contained herein, the matters discussed in this news release contain “forward-looking statements” that involve risks and uncertainties regarding Somera’s future opportunities and growth strategies, and its ability to execute its strategic plans in the future, including the operation of the business in broader geographies, in additional market segments and with a broader product portfolio. These statements may differ materially from actual future events or results. Readers are referred to the documents filed by Somera with the Securities and Exchange Commission, specifically, Somera’s reports filed on Form 10-K for the year ended Dec. 31, 2000, and quarterly reports filed on Form 10-Q, which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements, including, without limitation, risks relating to the company’s competition, its expansion into new markets, and the risk involved with any future strategic acquisitions. Copies of Somera’s Securities and Exchange Commission filings may be obtained by contacting Investor Relations, Somera Communications, at 805/681-3322.
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