Lumentum Holdings Inc. has announced the appointment of Paul Lundstrom to its board of directors, bringing the total number of members to nine, eight of whom are independent. Lundstrom, currently the Chief Financial Officer at Copeland, a global leader in sustainable climate solutions, is expected to leverage his extensive experience in corporate finance, manufacturing, and business transformation to provide valuable insights as Lumentum executes its long-term strategy.
With a Bachelor of Science degree from Truman State University and a Master of Business Administration degree from Columbia University, Lundstrom has held key financial leadership roles at Flex Ltd., Nextracker, Aerojet Rocketdyne, and United Technologies. His appointment is aimed at capitalizing on the significant growth opportunities presented by Lumentum's portfolio of foundational photonic technologies, particularly in the areas of artificial intelligence and cloud infrastructure.
Lumentum, a market-leading designer and manufacturer of innovative optical and photonic products for cloud, networking, and industrial applications, has been making strides with its optical components and subsystems, which are integral to almost every type of data center, telecom, and enterprise network. Additionally, Lumentum's lasers play a crucial role in enabling advanced manufacturing techniques and diverse applications, including next-generation 3D sensing capabilities.
The addition of Paul Lundstrom to the board of directors is anticipated to contribute to Lumentum's efforts to grow its business and enhance shareholder value, as it continues to pursue compelling opportunities in the market. Following these announcements, the company's shares moved 2.3%, and are now trading at a price of $92.8. For more information, read the company's full 8-K submission here.
