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Agere names finance execs
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January 10, 2001: 3:00 p.m. ET
Lucent spinoff taps former GM exec as its new chief financial officer
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NEW YORK (CNNfn) - Agere Systems, formerly called the Microelectronics Group of Lucent Technologies, has named the two top financial executives for the soon-to-be public company.
The Allentown, Pa.-based company said Mark Greenquist will be executive vice president and chief financial officer. In addition, Matthew Riley will be Agere's senior vice president and controller.
Greenquist, 42, will be responsible for executive management and oversight of Agere's financial operations and will report directly to John Dickson, the company's president and chief executive.
 Riley, 49, will oversee corporate finance, accounting, policy and processes, portfolio planning and business development and analysis. He will report to Greenquist.
Greenquist joins Agere from General Motors Europe, where he was vice president of finance and CFO, based in Zurich, Switzerland.
He joined the General Motors Finance organization in New York in 1986 and held a number of positions in GM's New York Treasurer's Office, including corporate finance, capital markets, foreign exchange and commodity hedging, and investor relations.
Within GM's European operations, he served in positions including treasurer of Saab Automobile, CFO and managing director of GM Poland, and most recently in his current position at GM Europe in Switzerland. He was also vice president and corporate treasurer of Delta Air Lines.
Riley most recently was CFO of Lucent's Microelectronics and Communications Technologies units before being named acting CFO in August for the Microelectronics spinoff.
 Riley, joined AT&T's Western Electric unit, which later became Lucent, in 1973 in a material planning role. Since then, he has held a variety of financial assignments, including CFO of the Lucent Microelectronics Group's Integrated Circuits Division, CFO of the Microelectronics Group, and later CFO of Lucent's Microelectronics and Communications Technologies unit.
Riley also currently leads the Agere team responsible for ensuring a smooth operational transition to a separate company.
In Late July, Lucent unveiled plans to spin off the microelectronics unit and float up to 20 percent of its shares in an initial public offering some analysts believe could be the largest ever, with estimates ranging as high as $20 billion.
Agere on Wednesday said the IPO, which is being lead managed by Morgan Stanley Dean Witter, is expected to take place by the end of the first calendar quarter of this year, and the spinoff from Lucent is expected to be completed by Sept. 30.
Shares of Lucent (LU: Research, Estimates) were up 13 cents at $16.94 in afternoon New York Stock Exchange trade Wednesday. 
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Agere Systems
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