Zhone Founder Feared Dead in Crash

Jeanette Symons, the founder of Ascend Communications and Zhone Technologies Inc. (Nasdaq: ZHNE), is assumed to be one of two fatalities in a plane crash that took place in Maine on Friday.

Medical examiners recovered two bodies, presumed to be Symons and her 10-year-old son, from the crash site, the Boston Globe reported over the weekend. As of this morning, the remains had not yet been identified officially, pending DNA test results.

Symons, 45, owned the Cessna Citation C-525 that crashed near Maine's Augusta State Airport. She and her son, Balan, are presumed to have been the only people on board.

The cause of the crash wasn't immediately clear. Reports say the plane lost radio contact shortly after taking off from Maine, en route to Symons's home in Colorado.

Symons had left telecom to found Industrious Kid, which operates imbee.com, a social network for children ages 8 to 14.

Zhone chairman and CEO Mory Ejabat issued the following statement today:

— Craig Matsumoto, West Coast Editor, Light Reading