STOCKHOLM, Sweden, Nov. 9, 2005 (PRIMEZONE) --Syntune AB, a developer of innovative single-chip tunable lasers and tunable transmitters today announced the election of John Pilitsis to its Board of Directors.
Pilitsis is an 18-year veteran of AT&T / Lucent Technologies. He served as the president of Lucent Optoelectronics from 1993 to 1998, and is widely credited with leading the turnaround of the Optoelectronics organization. Under his stewardship, sales rebounded from $172 million to over $450 million, and return on sales went from negative 50% to a positive 11%. Subsequent positions include CEO of Fitel Technologies Inc. Most recently, he was CEO of CyOptics from where he retired earlier this year. In addition to his commercial board positions, he has been Chairman of the Board of the Optoelectronics Industry Development Association (OIDA) in Washington DC.
"John Pilitsis brings a wealth of business and technology experience to Syntune," said Patrik Evaldsson, CEO. "We are very excited to have him join our team and his deep knowledge of our target market and customers will be very valuable as we are continuing to support our customers in their development of tunable solutions."
"The DWDM market is clearly moving towards tunability and Syntune has the technology to also move tunability into pluggable modules like XFP. This puts them in a very strong position as this market is now starting to grow again," said John Pilitsis.
"With the long-expected shake out of suppliers, and real growth ahead, the tunable laser market is now reaching critical mass. I am delighted to welcome John on board. His in-depth business experience at both the volume and start up level will help guide us through these exciting times," said Bjorn Broberg, Chairman.
About Syntune
Syntune (www.syntune.com) supplies state-of-the-art widely tunable lasers for applications ranging from fiber-optic communications to sensor systems. In communications, Syntune's lasers enable universal DWDM transceivers with low power consumption in a small form factor. These drastically reduce overhead costs for sparing and maintaining inventories. Tunability also enables flexible networks, which allows operators to offer innovative services and reduces their operational expenditures. Syntune is backed by InnovationsKapital (www.innkap.se), Teknoinvest Management AS (www.teknoinvest.no), and Vision Capital (www.visioncap.com).
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