Thu, May 12, 2011
Former Broadcom Executive Joins Company At A Time Of Incredible
Growth
Bret Johnson has been named as CFO of Space Exploration
Technologies (SpaceX), bringing 20 years of financial leadership
experience in high-profile, publicly traded companies to SpaceX as
it undergoes rapid growth on the back of tremendous technological
and market success. Johnsen's appointment follows the company's
fourth straight year of profitability. The total value of SpaceX
NASA and commercial contracts recently topped $3 billion for over
40 launches. The company has also grown to more than 1,300
employees.
"Bret has an exceptional talent for financial management in
high-growth, publicly held technology companies," said Elon Musk,
SpaceX CEO and CTO. "Looking at his career, he is clearly someone
that always sought out tough challenges and produced impressive
results. His experience will be invaluable to SpaceX as we
implement the financial standards and processes needed to allow for
the possibility of becoming a public company."
"I am thrilled to be part of a team that is transforming the
space industry," said Johnsen. "It is exciting to join such a
pioneering company as it continues to grow and increase market
share. My job at SpaceX will be to ensure financial discipline,
while supporting the formula that makes SpaceX great."
Johnsen spent nearly a decade at Broadcom Corporation, the
world's largest manufacturer of semiconductors for wired and
wireless communications. He played a key role in helping transform
Broadcom into a leading Fortune 500 technology company. There he
developed processes that drove operating efficiencies, saving
Broadcom millions of dollars annually. Starting out as Controller
for a number of business groups within Broadcom, he quickly rose up
the ranks. He ultimately was named Vice President, Corporate
Controller and Principal Accounting Officer, overseeing an
80-member accounting organization in nine countries for the
cutting-edge technology company.
After leaving Broadcom, he served as Senior Vice President and
Chief Financial Officer for Mindspeed Technologies. Last year, he
was named "CFO of the Year" by the Orange County Business Journal
for bringing the chip maker through the recession by cutting costs,
reworking debt, selling stock and raising cash through patent
sales. "The moves helped reposition Mindspeed for profitability and
brought renewed attention from Wall Street," the Journal said.
Johnsen holds a Bachelor of Science in Accounting from the
University of Southern California and a Master of Science in
Finance from San Diego State University. He is a certified public
accountant in the State of California.
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