Casa Systems announces CEO transition and reports fourth quarter and full year 2022 financial results

ANDOVER, Mass., March 14, 2023 (GLOBE NEWSWIRE) -- Casa Systems, Inc. (Nasdaq: CASA), a leading provider of cloud-native software and physical broadband technology solutions for wireless, cable, and fixed networks, today announced that the Company’s President and Chief Executive Officer will be retiring, and reported its financial results for the fourth quarter and year ended December 31, 2022.

The Company announced that Jerry Guo will be retiring as CEO and President effective March 17, 2023. He will remain as an active member of the Casa Systems’ Board of Directors. Mr. Guo founded the Company in 2003 and has been instrumental in directing the Company’s technology vision, global operations, and growth. The Board has retained an executive search firm to identify Mr. Guo’s successor. Edward Durkin, the Company’s CFO, will serve as Interim CEO until the Company’s new CEO is hired, with advisory assistance to be received from Jerry, and with functional support across all other disciplines from the Casa senior management team.

“On behalf of the Board, the management team, and employees, I would like to thank Jerry for his leadership and dedicated years of service to Casa Systems since founding the Company 20 years ago in 2003,” said Bruce Evans, Chairman of the Board. “Jerry has worked tirelessly to build Casa Systems into a leading global provider of cloud-native and broadband technology solutions while constructing the solid foundation that will support Casa Systems multi-year transformation. As Jerry departs from his daily operational and executive duties, we look forward to Jerry's continued leadership as an active member of our Board, and wish him much happiness in his retirement. We are also pleased to announce the appointment of Scott Bruckner to the newly expanded Board of Directors. Scott previously served as Casa Systems Chief Financial Officer, has a deep understanding of the Company’s business, strategy, major customers and ecosystem partners, and also brings a wealth of domain experience and expertise to the expanded Casa Board.

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