Ciena’s Board Opts for Patience Amid Tech Upheavals

Good morning. Optical networking pioneer Ciena is navigating the uncertainties of the artificial intelligence boom with the same mindset that helped it survive the depths of the telecom bust.

Over the course of a generation, it has relied on a combination of extreme focus, an emphasis on teamwork and the capacity to invest capital for the long term, according to Chief Executive Gary Smith, who has led the company since 2001.

That long-term horizon was established with the support of the company’s directors, according to Smith. “We’ve been very fortunate to have a board that’s been supportive about a longer-term strategy and plan and that’s enabled us to make investments that we think are the right ones to drive value over a period of time,” he said.

Ciena ranked fifth on the WSJ Leadership Institute’s Best Boards 2026. The new ranking, created by Bendable Labs for the WSJ Leadership Institute, evaluates how boards at large corporations compare with each other in a number of areas such as the knowledge and experience of their directors; group dynamics; governance and risk management and the company’s financial performance.To be ranked in Best Boards, a company had to be part of the S&P 500 stock index as of June 30, 2026.