Reported Earlier, Adtran Names Timothy Santo as CFO, Effective March 10, Replacing Uli Dopfer in Leadership Transition

ADTRAN Holdings, Inc. (NASDAQ:ADTN) ("ADTRAN Holdings" or the "Company") today announced a Chief Financial Officer transition. Timothy Santo, CPA, has been named CFO, succeeding Uli Dopfer, who will transition into a new role, effective March 10, 2025. Mr. Santo is an accomplished and experienced finance executive with a proven track record as a strategic leader, recognized for establishing effective financial strategies that align with both short and long-term operational objectives at Adtran.

Mr. Santo brings more than 25 years of corporate finance experience, including more than a decade in executive roles at public companies. He has deep expertise in international finance, accounting and treasury operations. Mr. Santo joined GE Capital in 2003, where he spent thirteen years in various executive level finance and operational leadership roles. More recently, he served as CFO at Conn's, Inc., Senior Vice President and Global Controller at PRA Group, Inc., and was a Senior Manager of the Business Advisory Services and Finance Transformation Group at Grant Thornton, LLP. Mr. Santo holds a Master of Business Administration from the University of Rochester, William E. Simon Graduate School of Business Administration, and a Bachelor of Science in Accounting and is a Certified Public Accountant.

ADTRAN Holdings' Chairman and Chief Executive Officer Tom Stanton stated, "As we look ahead, we see a meaningful opportunity to increase our earnings power and enhance shareholder value. Tim's proven ability to simplify complex capital structures and drive strategic initiatives will be invaluable. With his extensive experience in large, multinational public companies, we are confident in his ability to lead initiatives that drive cash generation and unlock value for our organization."

With the appointment of Mr. Santo, Mr. Dopfer will continue to serve on the Management Board of Adtran Networks SE, as well as serve as Vice President, Finance & Administration Planning to assist in facilitating a smooth transition.