Print
Email
Print Edition StoriesMonday, December 29, 2008
Sonus shakes up board and exec structure
Making Mass. a mini-Hollywood: Efrain Viscarolasaga on NECN
Efrain Viscarolasaga talks "sapphire tech" on NECN
Westford-based Internet protocol communications infrastructure maker Sonus Networks Inc. has reported a restructuring of its board of directors in an effort to “strengthen its corporate governance policies,” according to company officials.
The move, which follows a round of job cuts earlier this month, includes a proposal to declassify its board and the formal separation of the firm’s chairman and CEO positions. Officials did not offer any details regarding the declassification of the board, which will be voted on at the company’s 2009 meeting of stockholders.
Sonus (Nasdaq: SONS) director Howard Janzen has been appointed to the role of non-executive chairman, while Richard Nottenburg will remain the company’s CEO.
Longtime Sonus CEO Hassan Ahmed, who had led the company for 10 years, retired from the CEO position last spring, and from the chairman position in early December.
In conjunction with the announcement, officials also announced the retirement of director Edward Anderson, a managing partner at North Bridge Venture Partners in Waltham and a director of Sonus since 1997. Remaining board members at Sonus include Paul Severino, founder and former chairman of Bay Networks Inc.; H. Brian Thompson, chairman of Comsat International; John Cunningham, a former executive of Citrix Systems Inc.; as well as Janzen and Nottenburg.
In the company’s last reported quarter, ending Sept. 30, Sonus reported $61.7 million in revenue, a decrease of more than $26 million over the previous quarter, and a net loss of $19.6 million, a significant decline from the company’s net gain of $126,000 the previous quarter.
Earlier this month, Sonus cut 50 jobs, or about fiver percent of its global workforce.
RSS Feeds
Comments
Please Login/Register to post comments.
No comments have been added or approved.