Source Photonics, a portfolio company of Francisco Partners, said Tuesday that it has named Doug Wright as president and CEO, effective immediately. Wright succeeds current CEO, Dr. Near Margalit, who will assume the role of the company’s chief product officer. Headquartered in Chatsworth, Calif., and with offices in both China and Taiwan, Source Photonics is a provider of optical communication products.
CHATSWORTH, Calif.–(BUSINESS WIRE)–Source Photonics, a global provider of optical communication products used in telecommunication systems and data communication networks, announced the appointment of Doug Wright as president and chief executive officer, effective immediately. Wright succeeds current CEO, Dr. Near Margalit, who will assume the role of chief product officer.
“Doug brings world-class management experience to Source Photonics that will enable the company to continue scaling aggressively,” said Keith Geeslin, a director for Source Photonics and partner for Francisco Partners, a private equity firm and the lead investor in the Company. “With 20 years of experience in leadership roles in large organizations, Doug has a proven track record of growing businesses, building teams and improving operations. He also has a deep understanding of Asian markets and culture developed over many years of living and working in China, a crucial market for Source Photonics.”
Prior to joining Source Photonics, Wright served as a group president at United Technologies for five years, primarily based in Shanghai. Most recently, he led the Automation and Controls Solutions group, a $2.5 billion unit. Prior to United Technologies, Wright spent 15 years at Ingersoll Rand where he served in a variety of leadership roles, including president of Asia for the Security Technologies group. Wright earned a Master in Business Management degree in international business from the University of North Carolina and a Bachelor of Science degree in mechanical engineering from Virginia Tech.
Dr. Near Margalit to Lead Product Activities
Dr. Near Margalit will become Chief Product Officer and will oversee all aspects of technology and product development. Geeslin added, “Source Photonics’ tremendous growth over the last decade from a small business unit to one of the leading providers of optical components is a direct result of Near’s leadership. With the addition of Doug to the management team, Near will refocus his energy on developing cutting-edge products and driving continuous improvement in quality to further accelerate the Company’s growth.”
About Source Photonics
Source Photonics designs, develops, and markets a broad portfolio of optical communication components, modules, and subsystems used across the enterprise, access, and metropolitan markets. Source Photonics is a leader in optical subsystems and transceivers in worldwide telecommunication and data communication infrastructure deployments including passive optical networks (PON) and fiber-to-the-premise (FTTP). Source Photonics products enable telecommunication service providers to provide the powerful and cost efficient solutions needed to enable the high-bandwidth video, voice, and data services of the future.
About Francisco Partners
Francisco Partners is a global private equity firm that specializes in investments in technology companies. Since its launch over a decade ago, FP has raised approximately $7 billion and invested in more than 100 technology companies, making it one of the most active investors in the industry. The firm invests in transaction values ranging from $50 million to over $2 billion, where the firm’s deep sub-sector knowledge and operational expertise help companies realize their full potential. For further information, please visit: www.franciscopartners.com.