24/7 Wall St. Most Overpaid CEO Of The Day: Ciena (CIEN) CEO Gary Smith
Shares in Ciena (CIEN), a communications equipment company, fell 25% today to a new 52-week low of $13. The period high was $49.55. As part of its earnings announcement, Ciena said the future looks grim. The firm forecast revenue in…
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Shares in Ciena (CIEN), a communications equipment company, fell 25% today to a new 52-week low of $13. The period high was $49.55.
As part of its earnings announcement, Ciena said the future looks grim. The firm forecast revenue in its current, fiscal fourth quarter in a range of $190 million to $210 million, dramatically below the market’s prediction of $264 million according to Reuters Estimates
Ciena CEO Gary Smith has done quite well lately. In the company’s last fiscal year, he had a base salary of almost $510,000 and total compensation of over $3.2 million.
Smith will probably do just fine this year as well, especially for someone whose company has lost 70% of its market cap.
Douglas A. McIntyre
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Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.
McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.
His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.
A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.
TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.
McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.
