Meru Networks (NASDAQ: MERU ) isn't wasting any time in finding a successor to one of its top executives. The company announced Monday it had appointed Brian McDonald to be its new CFO to replace the resigning Brett White. McDonald took up his position today, although White will remain at the firm through July 1 in order "to effect a smooth transition."
McDonald is a veteran CFO, having served in that position for a number of tech companies including eASIC, Advanced Analogic Technologies, and Monolithic Power Systems (NASDAQ: MPWR ) .
According to an SEC filing submitted by the company, McDonald is to be paid an annual base salary of $305,000, and be eligible for stock and cash bonuses.
In the press release announcing the appointment, Meru Networks quoted CEO Bami Bastani as saying of McDonald that he "has demonstrated his ability to support the financial and operational requirements of rapidly growing companies."