John Rego, the CFO of Vonage, announced this week that he'll be leaving the troubled VoIP provider later this year. Neither Vonage nor Rego, who has been with Vonage since 2002, specified the reason why he is leaving.
According to a Securities and Exchange Commission (SEC) filing, Vonage said that Rego will continue to serve his duties as CFO, treasurer, and executive VP until the company files its 2009 annual report and a replacement is named. The only detail that Vonage gave is that it would reveal the details of Rego's resignation at a later unspecified date.
Rego's departure comes at a time when the company has continued to struggle with subscriber loss and dealing with the distraction of settling lawsuits. While Vonage's subscriber base got a boost through the debut of its "Vonage World" service, it has not prevented the company from losing 50,000 net subscribers for the full quarter. Vonage also had to pay $3 million to 32 states over customer care and cancellation issues this November.
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