MARLBOROUGH, Mass. -- 3Com Corporation (NASDAQ: COMS - News) today announced that Jay Zager will be joining 3Com as its new Executive Vice President and Chief Financial Officer (CFO), effective June 23, 2007. Zager will replace Don Halsted, who is leaving the company to pursue other opportunities. Halsted will serve as an advisor to 3Com and Zager to help facilitate an orderly transition of responsibilities.
Zager joins 3Com from Gerber Scientific where he was most recently the company's Executive Vice President and CFO. At Gerber, he was responsible for all aspects of finance as well as business planning, corporate development and information technology. During his tenure at Gerber, Zager played a key role in helping the company strengthen its financial performance and improve its balance sheet. Additionally, he worked closely with Gerber senior management to help broaden the company's international presence and achieve profitable growth, particularly in the China and Southeast Asia markets.
"3Com's global presence, scale and market opportunity have expanded considerably following the acquisition of H3C," said Edgar Masri, 3Com president and CEO. "We believe Jay Zager's significant executive, financial and international experience will play an important role in helping the new 3Com improve our financial performance and market position worldwide. I look forward to working with Jay as we leverage his experience to help drive further process improvements and increase shareholder value over time.
"I would like to thank Don for his hard work and dedication to 3Com over the past three years. Don played a key role in the completion of our acquisitions of TippingPoint and H3C, and he has been a consummate team player. He also has put in place a strong finance organization, which will serve the company well as we continue to grow."