Macom CFO Bob McMullan Resigns
Departure is said to be for personal reasons and not related to the company's financial state
Macom has announced that Robert McMullan, senior VP and CFO has submitted his resignation. McMullan is leaving for personal reasons, and his resignation is said not to be the result of any matters related to Macom's financial statements or disclosures or accounting principles and practices.
McMullan will transition to an advisory role and support Macom during the next two months to ensure an orderly transition of responsibilities.
“During his tenure, Bob was instrumental in rebuilding and reshaping Macom through numerous acquisitions and divestitures, as well as corporate financing transactions. We are grateful for Bob's positive impact on the company and wish him continued success in his next endeavour.”
The company also announced Conor Hegarty, VP of financial planning and analysis has been appointed to the role of principal financial officer and principal accounting officer effective immediately. Hegarty has been with Macom for 22 years and has served as VP, financial planning and analysis of Macom, since August 2016. Previously, he served as senior international finance director from March 2011 to August 2016. Hegarty is a Chartered Management Accountant (ACMA, CGMA).
"On behalf of the board of directors and the executive team, I would like to thank Bob for all of his contributions at Macom,” said John Croteau, president and CEO. “During his tenure, Bob was instrumental in rebuilding and reshaping Macom through numerous acquisitions and divestitures, as well as corporate financing transactions. We are grateful for Bob's positive impact on the company and wish him continued success in his next endeavour.”
Croteau continued: “Looking ahead toward the next phase of Macom's development, our focus is on leveraging the strategic investments we've made and scaling operations, both internally and with our external manufacturing partners. Accordingly, our search for a new CFO is focused on candidates with a strong financial background coupled with a proven track record of operational execution.”