Discussion with Sonus’ New CFO

Sonus Networks welcomes Richard “Rick” Gaynor to the Sonus Networks executive team as Chief Financial Officer. Rick joins Sonus from Sycamore Networks, Inc, where he served as the chief financial officer and vice president of finance and administration. As Sonus’ CFO, Rick will oversee Sonus’ worldwide finance team and be responsible for the implementation of several finance initiatives, financial planning and analysis, oversight of operational controllers and the financial analysis of mergers and acquisitions. Rick will drive the integration of the finance function with the companies operations including sales, support, engineering, manufacturing and other operational functions.

Managing the financial operations for one of the industry’s most rapidly growing companies is a demanding task. As a seasoned finance veteran, Gaynor has successfully navigated high-growth companies through the adoption of governance rules such as Regulation Fair Disclosure “FD”, Regulation “G”, Sarbanes-Oxley Act, FAS 123R and broad Corporate Governance. Gaynor is joining the IP-voice market leader at a time when operators around the globe are rapidly moving their networks to IP and embracing IP for voice communications. Such rapid global growth requires a strong focus on financial discipline and integrity.

What attracted you to the role of Sonus Networks' CFO?
Sonus is one of the most exciting companies in the communications equipment industry. I started my career in the high-tech industry and have always enjoyed the challenge of managing a company through an ever changing environment. The high-tech world changes very quickly, which requires a strong financial strategy and innovative solutions. Sonus is strong financially and has exceptional focus on innovation. I’m excited for the opportunity to help Sonus seize the incredible opportunity that lies ahead.

What unique qualities to you bring as CFO?
I’ve been in the industry for nearly 20 years, and my background spans both financial and operational leadership experience, so I think I’m a natural fit for Sonus. In addition, Hassan, the management team and I all have a similar end goal in mind: we’re focused on maximizing long-term shareholder value, integrating the finance function into the companies operations, promoting a strong relationship between sales and finance, and implementing disciplined financial practices.

What’s your biggest priority as you head into your new role as CFO?
Growing a company successfully isn’t just about having the best technology; you need to invest in the right areas and drive accountability and efficiency across the organization. From a finance perspective, that translates into understanding the resources you have to work with and maximizing the effectiveness of your investments. Sonus has already taken great strides in that direction – my biggest priority is to take it to the next level.

What are your plans for driving efficiency in the Sonus organization?
Sonus is a growing company, and it needs the right processes and infrastructure to support that growth. You can’t make smart business decisions without the right level of information and insight. I’m going to spearhead initiatives to strengthen Sonus’ information systems to streamline the revenue conversion and quarterly close processes, as well as enabling real-time access to key financial metrics.

What is your strategy for increasing shareholder value?
One of the things that attracted me to Sonus was the fact that everyone at the Company, from the CEO to the engineering teams to sales, is focused on building the Company into the preeminent IP-voice communications provider, meeting the current and future needs of our customers, and driving shareholder value. Everyone at Sonus is a shareholder and vested in achieving the same objectives. As CFO, the goal of my team will be to generate sustained profitability and to drive fiscally-sound policies and decisions across the organization.

How do you plan to maintain shareholder's confidence in Sonus and its financial integrity?
I think the most effective way to maintain shareholder confidence is to be as thorough and transparent as possible. The financial accounting industry has gone through several periods of change over the past few years, but as long as a company puts a premium on financial integrity, shareholders should be able to recognize the real value a company offers. Sonus has always had a commitment to transparency and being forthright with its shareholders. Hassan’s personal focus on ensuring that the company gives accurate information is another important factor in the overall stance of the company.

When will the financial community have an opportunity to speak with you in person?
There is a lot to do at Sonus, but our shareholders, customers and employees are the top priority. Given the timing in the quarter, the finance organization will be focused on the third quarter financial close and I will also be taking this opportunity to meet with employees and customers. As soon as Sonus reports its third quarter, we will be hosting our annual meeting, which will allow me to meet with many of the Company’s shareholders.