Digg icon reddit icon Stumbleupon icon
Print Email     Print Edition Stories

Monday, July 28, 2003

Software

Centra's Navickas steps down as CEO, former Genuity chief comes in

Centra Software Inc., a Lexington-based real-time collaboration software maker, has appointed the former chief executive of Genuity Inc. as its chief executive officer, replacing Centra's longtime founder at the top spot.

The company also reported a narrower loss for the second quarter of 2003 at $2.2 million, nearly half the loss it posted for the second quarter of 2002. Revenue came in at $10.4 million, 23 percent higher than it was for the same period a year ago.

On the news, Centra's stock opened this morning at $2.95, up 15 cents from yesterday's close.

Paul Gudonis will replace Centra's founder, Leon Navickas, who has served as that company's CEO since its inception. Navickas will remain chairman of the board at Centra and will remain with the company as its chief strategy officer.

Through a series of mergers, Gudonis grew BBN, a regional Internet backbone company, into Genuity, a red-hot national Internet service provider during the boom.

Genuity was created in July 2000 as part of the merger of GTE and Bell Atlantic that formed Verizon. The Federal Communications Commission required that GTE spin out its GTE Internetworking division, which was essentially BBN's old operation.

Genuity prospered during the boom but took the crash hard, ultimately filing for bankruptcy in November. Genuity's assets were sold to Level 3 Communications.

Digg icon reddit icon Stumbleupon icon
Contact Editor Latest News

Comments

Please Login/Register to post comments.

No comments have been added or approved.

On the MHT blog now

Bill Gates, Ray Ozzie, Microsoft execs patent 'personal data mining'

By Todd Bishop TechFlash Bill Gates, Ray Ozzie and a bunch of other heavy-hitters from Microsoft are named as inventors on a newly issued patent for a "personal data mining" system that would analyze information and make recommendations with the goal of aiding a person's decisions and improving quality of life. The patent was issued this week, based on a September 2006 patent application. I...

Read More

Boston University - MS MBA
Most Popular Stories
EmailedViewed
Stay Informed
Check which newsletter you'd like to receive.
TechFlash (Daily)
FinanceFlash (Daily)
BioFlash (Daily)
GreenFlash (Weekly)
Startup Report (Weekly)
Breaking news, MHT events, local announcements
RSS feeds
Your email:

Affiliate publications: ACBJ.com, Boston Business Journal, Bizjournals.com, Portfolio.com, Wired.com

Web Site Developed by Neptune Web, Inc.

Use of, registration on, this site constitutes acceptance of our User Agreement. Please read our Privacy Policy (updated) A publishing partner with Portfolio