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Wednesday, February 24, 2021

ADTRAN Appoints CFO

ADTRAN has announced that it has appointed Roger Shannon as its senior vice president of finance and CFO.

Shannon will oversee finance, investor relations, accounting, legal affairs and contracts.

“Roger’s experience creating financial strength at large, multi-national companies will be beneficial as ADTRAN looks to capitalize on the significant growth opportunities in broadband services in markets around the world,” said Thomas Stanton, CEO and chairman of the board, ADTRAN. “As ADTRAN has shifted its focus as a software company and expanded our sales, research, product development and support teams around the world, Roger will play a key role in ensuring we create shareholder value as we help our customers deploy the future network state.”

Prior to joining ADTRAN, Shannon served as CFO and treasurer at Steel Technologies LLC, a subsidiary of Mitsui & Co., Ltd. and Nucor Corporation since July 2006, also serving as its principal accounting officer. Prior to his nine-year tenure at Steel Technologies, Shannon directed global treasury for Brown-Forman Corporation. During his career, Shannon has held financial leadership positions in a wide range of industries at large and mid-size international companies in the manufacturing, consumer goods and business services markets. A native of Decatur, Alabama, Shannon holds a master’s degree in business administration from the Terry Graduate School of Business at the University of Georgia and a bachelor’s degree in accounting from Auburn University. He is a certified public accountant and chartered financial analyst.

“ADTRAN is poised for a fundamental expansion of its business, both globally and through the innovative software-driven service creation solutions it has developed. I look forward to supporting the company through this process in an effort to maximize its opportunities for financial success,” said Shannon. “These business transformations present exciting challenges and opportunities, and I believe my skills and experience can help expand the company’s growth trajectory and create more value for all of its shareholders and other stakeholders.”

Michael Foliano, who has served as interim CFO, will remain responsible for all manufacturing, supply chain and logistics functions, as well as ADTRAN’s corporate IT, facilities and real estate functions as the company’s senior vice president of global operations. “Mike has done a tremendous job in his dual role as both interim CFO and senior vice president of global operations. We appreciate his dedication, drive and focus,” added Stanton.

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