Lumentum announced on February 3, 2025 that it appointed Michael Hurlston as President and Chief Executive Officer, effective at 12:00 a.m. Pacific Time on February 7, 2025, and to the board of directors. He succeeds Alan Lowe.

1. 01

   Lumentum announced on February 3, 2025 that it appointed Michael Hurlston as President and Chief Executive Officer, effective at 12:00 a.m. Pacific Time on February 7, 2025, and to the board of directors. He succeeds Alan Lowe.

2. 02

   The company said Alan Lowe will serve as a full-time non-executive employee through February 20, 2025, then transition to a part-time advisor role until December 15, 2025, and will receive a lump sum severance payment of $3,200,000 on the separation date.

3. 03

   Lumentum said it will pay Hurlston an annual base salary of $900,000, an annual bonus with a target opportunity of 130% of his base salary, a cash signing bonus of $2,000,000, and will grant him restricted stock units with a grant date value of $9,000,000 and relative total shareholder return performance units valued at $14,000,000 as inducements to join the company.

4. 04

   The company expects net revenue for Q2 of 2025 to be approximately $402 million and non-GAAP diluted earnings per share to be $0.40 to $0.42, compared with prior guidance of net revenue of $380 million to $400 million and non-GAAP diluted earnings per share of $0.30 to $0.40.

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Original filing

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