IP software and applications specialist Metaswitch Networks has replaced CEO Kevin DeNuccio with his predecessor, John Lazar, who has been the chairman during DeNuccio's two-year tenure.
DeNuccio was drafted in as CEO in February 2010, replacing Lazar, who became the company's chairman. (See Redbacker DeNuccio Becomes Metaswitch CEO.)
But now Lazar is back in the hot seat, with DeNuccio sidelined, restricted to assessing "strategic initiatives" for the VoIP, applications, protocol stack and control plane specialist. Both retain a place on the Metaswitch board.
So why was DeNuccio ousted?
"I think you have to look at why Kevin was here," states Lazar in an emailed request for comment. "He set out to achieve a lot in his two year tenure -- he hired key execs in the US, built out our West Coast operation (engineering, marketing, finance and operations), oversaw two acquisitions, broadened our product portfolio and improved the company's global visibility in all markets."
He did well and then got the order of the boot, it seems.
So have the company's IPO plans been put on ice? It seems so. (See Is Metaswitch Prepping Its IPO? and Metaswitch Eyes an IPO.)
"Once [DeNuccio] had achieved that, many saw us as a likely candidate for a possible public listing. It's arguable whether the markets would really support that right now, and of course there's a very real need to successfully manage our core business while always, and simultaneously, investigating adjacent business opportunities. That's an agreeable context both for my reappointment, and the new challenge for Kevin," adds Lazar.
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— Ray Le Maistre, International Managing Editor, Light Reading
