Ribbon’s new EVP and CFO steps into role
29 June 2020 | Melanie Mingas
Ribbon Communications has appointed a new executive vice president and CFO to succeed Daryl E. Raiford as he prepares to leave the business.
Effective today, Miguel “Mick” Lopez will be responsible for driving profitability and improving shareholder returns as Ribbon focuses on increasing its presence with global service provider and enterprise customers
Bruce McClelland (pictured), Ribbon Communications CEO said: “Mick has a strong track record as CFO of both public and privately held companies, successfully leading finance and operations organisations through significant transformations. His experience and leadership will be a great asset for the team as we continue our focus on improving long-term shareholder returns.”
Prior to joining Ribbon, Lopez was CFO of sports and recreation brand Vista Outdoor Inc. (NYSE: VSTO) where he reduced costs, executed strategic portfolio divestitures and implemented a low-cost scalable capital structure.
Lopez has also worked as CFO for Veritas Technologies where he drove profitability improvements through portfolio and operational improvements and prior to that he was the CFO for Harris Corporation where he played an integral role in reshaping the corporate strategy, which resulted in the $3 billion acquisition of Exelis Inc.
From 2011 to 2014, he was the CFO for Aricent Group/KKR Private Equity, where he drove initiatives focused on improving profitability, leverage position and global tax structure. Earlier in his career, he gained valuable experience as VP of finance at Cisco Systems and Tyco International, as well as international assignments with IBM and KPMG.
“I am thrilled to be joining Ribbon during this exciting period,” said Lopez.
“This is a pivotal time for the company, and the recent acquisition of ECI and the new leadership and energy Bruce is providing creates a clear path to growth. I am excited to be a part of these efforts and look forward to supporting the strategy.”
Raiford has left Ribbon after 10 years.
Paying tribute, McClelland said: “I’d like to thank Daryl for his many years of service and leadership at Ribbon and previously GENBAND. He was instrumental in driving the corporate and financial strategy of the company through a series of merger and acquisition transactions including Nortel, Sonus Networks, Edgewater and, most recently, with ECI Telecom, all while successfully integrating the complex financial operations of each. We wish him well in his future endeavours.”
In January, Ribbon Communications launched its next generation intelligent edge portfolio with a new cloud and premises solutions portfolio, new EdgeMarc 6000, and in the same month Ribbon partnered with Etisalat on a new cloud-based unified communication and collaboration service for SMEs and enterprises in the UAE.
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