Dasan Zhone Solutions Announces Executive Management Change

OAKLAND, Calif., Sept. 03, 2019 (GLOBE NEWSWIRE) -- Dasan Zhone Solutions, Inc. (NASDAQ: DZSI), on August 26, 2019, Michael Golomb, the Chief Financial Officer, Corporate Treasurer and Corporate Secretary of Dasan Zhone Solutions, Inc. (the “Company”) informed the Company that he intends to resign his employment with the Company, effective August 30, 2019, to pursue another opportunity. The Company is undertaking a search to find Mr. Golomb’s replacement.

Yung Kim, President, and Chief Executive Officer said, “On behalf of the board of directors and executive team at DZS, I would like to thank Michael for his contributions over the past two years.  He joined at a critical time when the company was going through rapid transformation and growth, bringing his broad experience when it was most necessary. On behalf of DZS, we wish him every success in the future.”

Michael Golomb said, “After very careful consideration, I have decided to pursue another opportunity.  I enjoyed my time at DZS working with Yung Kim and the rest of our team.  We raised public equity and re-financed short-term debt; acquired Keymile; as well as restructured and built out a global finance and accounting organization.  I am very confident that DZS will continue to deliver value for shareholders and customers alike.”

“While the Company is undertaking a search to find Mr. Golomb’s replacement in the interim, we will be relying on the talented organization that Golomb has assembled. The Company and Mr. Golomb have entered into a consulting arrangement by which Mr. Golomb would make himself available to provide certain services to the Company to ensure an orderly transition of his duties to his replacement,” Yung Kim continued.

DZS is also announcing the appointment of Joseph Chinnici, the former CFO of Ciena Corporation, as an advisor. Chinnici is an industry veteran and seasoned executive with over 25 years of experience as a Chief Financial Officer and board member who has helped design strategies, develop and execute plans and build organizations to expand and operate globally.

Yung Kim, President and Chief Executive Officer on Joe Chinnici advisory role: “Joe brings a wealth of public company CFO experience that complements the DZS management team.  We intend to leverage his expertise and experience as we continue to grow the company and expand our solution offering.”

About DZS, Inc.

DZS, Inc. (NASDAQ: DZSI) is a global leader in network access solutions for service providers and enterprise networks. The company provides a wide array of reliable, value-add networking technologies—including broadband access, mobile backhaul, Ethernet switching, Passive Optical LAN, and software-defined networks—to a diverse customer base that includes more than 1,000 of the world’s most innovative network operators. DASAN Zhone Solutions headquartered in Oakland, California, USA, with operations in more than 20 countries worldwide.

DZS, the DZS logo, and all DZS product names are trademarks of DASAN Zhone Solutions, Inc. Other brand and product names are trademarks of their respective holders. Specifications, products, and product names are all subject to change without notice.

Forward-Looking Statements

This press release contains forward-looking statements that are subject to the safe harbors created under federal securities laws.  Words such as “anticipate,” “believe,” “expect,” “intend,” “may,” “will,” and similar expressions are intended to identify forward-looking statements. Actual results could differ materially from those expressed in the forward-looking statements. Factors that could cause actual results to differ, include commercial acceptance of the Company’s products; competition in the communications equipment market; the Company’s ability to execute on its strategy and operating plans; and economic conditions. See also the risk factors in the Company’s Form 10-K and other SEC filings available at www.sec.gov. Readers are cautioned not to place undue reliance on any forward-looking statements. The Company undertakes no obligation to update or revise any forward-looking statements for any reason.

Media Contact

DASAN Zhone Solutions
Tel: [phone]
Fax: [phone]
E: [e-mail]