Fiber optic-based technology provider Luna Innovations Incorporated (NASDAQ: LUNA) makes multiple announcements. It appoints Kevin Ilcisin as its new President and CEO. The company also announced the retirement of Richard Roedel from its board of directors after 20 years. Luna also closed a $15 million junior secured loan facility from White Hat Capital Partners.
Kevin, the co-founder of the advisory firm Juniper Strategies, will take up his role from August 1. 2024 and will also join Luna’s BOD. He has been a strategic advisor to the company since April this year, and brings a wealth of experience, industry knowledge and strategic leadership.
Before this, Kevin served as the SVP of strategy and corporate development at National Instruments (NI), where he was responsible for corporate strategy and led all of NI’s acquisitions and divestitures. Prior to NI, he was the CTO of Tektronix, a Fortive subsidiary and a spin-off of Danaher Corporation. Here he managed strategic planning and technology growth initiatives. Kevin has also held several executive roles in the semiconductor equipment, consumer electronics and energy research industries.
Warren B. (Barry) Phelps, III, Chair of the Board, said, “The Board welcomes Kevin to the leadership team and is confident that he is well-positioned to lead Luna with respect to its pursuit of opportunities for growth and strategic alternatives.”
Kevin commented, “I am honored to be named President and CEO at Luna. During my time as a strategic consultant, I saw firsthand Luna’s leading market position and was deeply impressed by the dedication and passion of our talented employees. I remain confident in Luna’s tremendous potential and look forward to leading our efforts to execute Luna’s strategy and deliver on that potential.”
Kevin succeeds Richard Roedel who retires after 20 years of service to Luna from the position of interim president and interim executive chairman of the company due to health reasons, effective immediately.
Richard commented on his exit, “As I reflect on my tenure and all we’ve accomplished at Luna, I am grateful for the talented and dedicated individuals with whom I have had the privilege to serve. I am proud of the strong and diverse Board that we have assembled and am excited to see what the future holds for Luna.”
On July 16, 2024, Warren B. (Barry) Phelps, III was appointed Chair of the Board of Directors. Mr. Phelps has served as a member of the Board since 2017. Warren serves as the chair of the Board’s Audit Committee and as a member of the Compensation Committee.
Warren said of Richard’s retirement, “On behalf of the Board, I would like to thank Rich for his steadfast commitment and unparalleled service to Luna. Throughout his tenure, Rich’s technical skills, business acumen and insightful contributions to the Board and Luna have been instrumental in shaping the company’s growth and success.”
