SeaChange Names Bornak CFO
Exec Previously Was Chief Financial Officer for Tollgrade Communications
By Todd Spangler -- Multichannel News, 1/19/2012 3:31:54 PM
SeaChange International announced Michael Bornak, formerly chief financial officer of Tollgrade Communications, as its new CFO replacing Kevin Bisson, who left the company last week to join Mercury Computer Systems.
Bornak, who starts with SeaChange effective Jan. 23, will serve as CFO, treasurer, secretary and senior vice president of finance and administration.
Prior to Tollgrade, a provider of network assurance solutions for utilities and telecommunications providers, Bornak has served as CFO for companies in a variety of industries, including Solar Power Industries, MHF Logistical Solutions and Portec Rail Products. He also was a certified public accountant at Ernst & Young.
"We welcome Mike to SeaChange and believe his background is particularly suitable to help us accomplish our committed goals of enhancing shareholder value, driving operational efficiencies and delivering improved financial results," SeaChange interim CEO Raghu Rau said in a statement.
Rau, a SeaChange board member and strategic advisor specializing in global marketing, business strategy and venture capital for high-technology companies, assumed the role of interim CEO with the departure of company founder, chairman and CEO Bill Styslinger in November 2011.
Bisson is now CFO of Chelmsford, Mass.-based Mercury Computer Systems, a provider of intelligence, surveillance and reconnaissance subsystems to defense contractors.
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