Sonus Networks is experiencing some corporate structural changes, and ongoing lagging performance by the company has raised the ire of its top investor. Light Reading reported a few days ago that Jocelyn Philbrook, vice president of corporate marketing and investor relations at Sonus, is leaving the company after her job was restructured by CEO Richard Nottenburg, the former Motorola executive who took the helm at Sonus in May. Philbrook is the latest of several executives to leave Sonus over the last year and a half.
Meanwhile, Legatum Capital, the largest investor in Sonus, sent a letter to company management expressing its displeasure with the company's stock price having hit a five-year low. Legatum and Sonus have recently been engaged in a war of words over what had been perceived by Sonus as Legatum's interest in a hostile takeover of the company. The letter from Legatum said the investor firm is not interested in pursuing such a move.
For more:
- read this story [1] about Legatum at Light Reading
- see this post [2] about Philbrook at Light Reading
Related articles:
Sonus Networks announced the acquisition of Atreus Systems in April Sonus report [3]
Sonus named Nottenburg CEO earlier this spring Sonus report [4]
Links:
[1] http://www.lightreading.com/document.asp?doc_id=157858
[2] http://www.lightreading.com/document.asp?doc_id=157828
[3] http://www.fiercetelecom.com/story/sonus-networks-to-acquire-atreus-systems/2008-04-21
[4] http://www.fiercetelecom.com/story/ex-motorola-exec-nottenburg-takes-over-at-sonus/2008-05-21