Ribbon Communications ( (RBBN) ) has issued an update.
Ribbon Communications Inc. has announced John Townsend as its new Executive Vice President and Chief Financial Officer, succeeding the retiring Miguel Lopez. Townsend, with a seasoned background in telecom finance, including roles at Digicel Group and Verizon, will assume his position by November 1, 2024. His compensation package includes a $500,000 base salary, performance-based bonuses, and significant equity awards, with specific terms ensuring alignment with the company’s financial goals and stock performance. Townsend’s appointment comes with robust severance protections, further entrenching the executive’s commitment to driving Ribbon Communications’ financial strategy.
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