Optical equipment vendor seems to be on a roller coaster ride lately. During its earnings call yesterday, the company announced that Infinera founder Jagdeep Singh will step down from the CEO post in 2010, but remain on board as executive chairman and Chief Operating Officer. After Singh steps down from the CEO post in January, current COO Tom Fallon will assume the CEO role. Fallon, who was appointed to the COO role in 2006, joined Infinera in 2004 as vice president of engineering and operations after serving as Cisco's VP of corporate quality and development operations.
Despite winning six Tier 1 carriers in the last six months including NTT, Infinera has had its fare share of struggles. A report from financial analyst firm Jefferies revealed that Huawei may have beaten out Infinera for Level 3's 40 Gbps WDM planned network deployment. It is estimated that Level 3 represented 20 percent of the company's revenues during the second quarter. Then, to deal with the tough economy, Infinera said it would lay off 50 employees by closing its Maryland fab facility.
For more:
- here's the official release
- Light Reading has this article
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