Stock Update (NASDAQ:DRWI): DragonWave, Inc. (USA) Appoints New Interim Chief Financial Officer

DragonWave, Inc. (USA) (NASDAQ:DRWI), a leading global supplier of packet microwave radio systems for mobile and access networks, today announced that Russell Frederick, Vice President and Chief Financial Officer, is leaving the company due to personal reasons. Russell’s departure is effective immediately, and he will no longer serve as a member of the Board of Directors of DragonWave Inc. or any related entities. DragonWave would like to thank Russell for more than 11 years of service and we wish him well for the future.

Patrick Houston will assume Russell’s duties in the role of Interim Chief Financial Officer. Patrick is currently the Assistant Vice President of Finance and Operations of DragonWave and has been with DragonWave in senior roles for eight years. Before joining DragonWave, Patrick was a senior associate at Deloitte LLP. Patrick is a Certified Public Accountant and holds a Bachelor of Commerce degree from the University of Ottawa.

“I am very pleased that Patrick will be supporting DragonWave as Interim Chief Financial Officer”, said Peter Allen, President and CEO. “Patrick has played a key role in our strategic initiatives and is well positioned to help guide the company.” (Original Source)

Shares of Dragonwave closed today at $0.23. DRWI has a 1-year high of $1.55 and a 1-year low of $0.19. The stock’s 50-day moving average is $0.33 and its 200-day moving average is $0.58.

DragonWave Inc is a provider of high-capacity packet microwave solutions that drive next-generation IP networks. Its products are wireless network backhaul equipment.

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