08:25 AM EDT, 09/16/2024 (MT Newswires) -- Vecima Networks ( VNWTF ) on Monday said Chief Financial Officer Dale Booth retired and has been replaced by Judson Schmid, who was vice-president, finance and accounting.

Booth joined the network-management company in 2011 and served in the company's two most senior finance roles.

"His financial knowledge, strategic insights, development of his team members, and collaborative style have provided strong support to our executive team as we've significantly grown revenues and transformed Vecima into a global leader in the distributed access architecture and IPTV solutions markets," Chief Executive Sumit Kumar said in a release.

Schmid's appointment to the CFO role comes as part of a succession plan put in place by the company ahead of Booth's expected retirement. Schmid joined the company in 2017 and holds a Masters of Accounting degree and is a certified professional accountant.

Vecima shares closed down $0.08 to $22.07 on Friday on the Toronto Stock Exchange.