Vonage CEO Resigns
Posted: April 12th, 2007 | Author: Garrett Smith | Filed under: VoIP News | 5 Comments »Michael Synder Lasted Less Than a Year
Not that this should be a surprise given all that has gone on wrong at Vonage during his tenure, but one has to wonder if Michael was thrown under the bus to “show investors” that Vonage was serious about cutting costs and making themselves into a viable, long term, profitable business. Seems that Michael is the “fall guy” here, especially since Vonage included a snippet in the press release about their plans to focus on reducing the company’s operational costs, and slashing marketing expense….signs of an investor driven move.
Although no reason was given for his resignation (so my thoughts are pure speculation), Jeffery Citron noted that, “Mike has made valuable contributions to the growth of our business and we will miss him. We thank him and wish him well in his future endeavors.” According to the press release, Jeffery Citron will act as interim CEO, as the company attempts to finds a new replacement.
This begs the question, “Who in the world would want this job?”
[...] Snyder may have wanted to get out of dodge. Stay tuned as story develops. Share/E-mail | Sphere | Print | Topic: Voice | Tags: Jeffrey Citron, patent, Valleywag, verizon,vonage [...]
[...] Some believe that Snyder is the fall guy here, but I think it might be an exit of convenience. Vonage needs the street fighting skills of Citron in the battle for survival. Snyder may have wanted to get out of dodge. Stay tuned as story develops. [...]
Fall guy? At least it wasn’t a very long fall, from his or Vonages perspective. Its not that Vonage doesn’t have a rudder, its that they don’t have a very good engine.
Hey, for $2 mill, I will take the job.
http://moonsview.blogspot.com/
[...] 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: [...]
[...] Smith on VoIP- Not that this should be a surprise given all that has gone on wrong at Vonage during his tenure, but one has to wonder if Michael was thrown under the bus to “show investors” that Vonage was serious about cutting costs and making themselves into a viable, long term, profitable business. Seems that Michael is the “fall guy” here, especially since Vonage included a snippet in the press release about their plans to focus on reducing the company’s operational costs, and slashing marketing expense….signs of an investor driven move. [...]