Viavi Solutions Inc. (NASDAQ:VIAV) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Appointment of Audit Committee Member
On September 18, 2017, the Board of Directors (the “Board”) of Viavi Solutions Inc. (the “Company”) appointed Donald Colvin to serve on the Company’s audit committee (the “Audit Committee”), effective immediately. The Board determined that Mr.Colvin is “independent” as defined in the applicable rules and regulations of the Securities and Exchange Commission and NASDAQ and is an “audit committee financial expert” as defined under Item 407(d) of Regulation S-K of the Exchange Act.
Mr. Colvin joins Keith Barnes, Masood Jabbar and Pamela Strayer on the Audit Committee. Ms. Strayer will continue to serve as Chair of the Audit Committee. In connection with his appointment to the Audit Committee, Mr. Colvin will be entitled to the compensation provided to other non-employee members of the Audit Committee as described under the heading “Director Compensation” in the Company’s most recent Proxy Statement on Schedule 14A, filed with the Securities and Exchange Commission on September 22, 2017, such description is incorporated into this Item 5.02 by reference.
About Viavi Solutions Inc. (NASDAQ:VIAV)
Viavi Solutions Inc. (Viavi) is a provider of network test, monitoring and assurance solutions to communications service providers, enterprises and their ecosystems. The Company also offers thin film optical coatings, providing light management solutions to anti-counterfeiting, consumer and industrial, government and healthcare and other markets. The Company’s segments include Network Enablement (NE), Service Enablement (SE), and Optical Security and Performance Products (OSP). The NE segment provides testing solutions that access the network to perform build-out and maintenance tasks. The SE segment offers solutions, which are embedded systems that yield network, service and application performance data. The OSP segment provides optical security solutions. The OSP segment’s security offerings for the currency market include Optically Variable Pigment (OVP), Optically Variable Magnetic Pigment (OVMP) and banknote thread substrates.