Summary
Ciena Corporation (CIEN) has announced a significant leadership transition in its finance department through an 8-K filing on June 18, 2025. Marc D. Graff has been appointed as the new Senior Vice President and Chief Financial Officer, effective August 1, 2025. Mr. Graff brings extensive financial leadership experience, most recently serving as CFO and COO for Intel's Data Center and Artificial Intelligence Group and prior experience at Altera Corporation. This appointment follows the previously announced retirement of James E. Moylan, Jr., who has served as CFO for over 16 years. Mr. Graff's compensation package includes a base salary of $650,000, with a target annual bonus of 100% of base salary. He will also receive a one-time sign-on bonus of $1,950,000 and a significant replacement equity grant valued at approximately $10.49 million to compensate for forfeited incentives from his previous employer. The filing also outlines his eligibility for future equity awards, severance plans, and relocation benefits, underscoring the company's investment in securing experienced financial leadership.
Key Highlights
- 1Marc D. Graff appointed as Senior Vice President and Chief Financial Officer, effective August 1, 2025.
- 2Mr. Graff's appointment follows the planned retirement of current CFO James E. Moylan, Jr.
- 3Graff's compensation includes a $650,000 base salary and a target 100% annual bonus.
- 4Significant one-time sign-on bonus of $1,950,000 awarded to Mr. Graff.
- 5A replacement equity grant valued at approximately $10.49 million is provided to Mr. Graff.
- 6Mr. Graff has extensive financial executive experience, including roles at Intel Corporation and Altera Corporation.
- 7Graff will be designated as the Company's principal financial officer and principal accounting officer.