Who Wants To Be The Vonage CEO?
Garrett Smith was one of the first to break the news that Vonage and their ex-CEO Michael Snyder parted ways. Jon Arnold attended the call this morning and wrote up a very detailed summary of the events. The things I thought were important:
- Jeffery Citron, the man who is legally not allowed to be a CEO, is currently the interim CEO of Vonage. Wonder how the feds are liking them apples?
- Vonage is going to be reducing costs. Marketing costs will be reduced by about $110 million with another $30 million reduction in operational costs. Expect some layoffs, Vonage employees. Not sure what it will mean for the non-US operations, either.
- The appeals for the Verizon/Vonage case are expected to take up to 2 years to be resolved.
Read Jon Arnold’s whole piece. It’s very informative.