LightPath Technologies Implements Strategic Growth Initiatives - Quick Facts

(RTTNews) - LightPath Technologies, Inc. (LPTH) announced the implementation of strategic growth initiatives and an organizational optimization plan. Under these plans, the company will be better positioned to accelerate its revenue growth and profitability, principally by the transition to a technical sales process that leverages the success of its existing demand-creation model.

The company also said that in order to align the organization for specific goals and accountability, an executive structure has been created with three direct reporting lines: Operations, China, and Finance.

As an integral component to accomplish its goals, LightPath said it is aligning its sales and marketing efforts to elevate its demand-creation model to an even more technically-based approach as its addressable markets have proven to be increasingly receptive to the company's product lines.

Technical and engineering staff will be more fully integrated with the company's sales force, and two new sales positions have been created namely Executive Sales Manager, combining the responsibility for all sales and marketing under Glenn Breeze; and, Marketing Manager under Kimberly Clifton, the company stated.

Organizations supporting aspheric visible lens products and the company's new line of infrared products will be combined. Sales, marketing, engineering and quality will report to Alan Symmons, who assumes the newly created position of Executive Vice President-Operations.

LightPath said its Finance organization will continue to be led by Chief Financial Officer Dorothy Cipolla, who also will assume the newly created position of Chief Administrative Officer.