Following an inquiry from Light Reading, Overture Networks Inc. provided the following statement Friday afternoon:
In support of Overture’s focused 2013 global growth strategy, the company has identified changes to the organization that will result in greater market focus and operational efficiency. These changes involve the elimination of several employee positions in some areas and expansions in others; these changes were all in our field organization. While decisions such as these are difficult, this action will strengthen Overture’s business and allow the company to build on its growth in 2012.
Jeff Reedy, Chief Strategy Officer, Overture will be departing the company at year’s end to pursue other opportunities. Overture is grateful for Jeff’s leadership and pleased that he will continue to lend his strong business acumen and guidance as a member of the company’s Board of Directors.
Reedy, an Overture founder, had been CEO until September, when Mike Aquino took that position. (See Overture Appoints New CEO.)
I don't know but based on the previous article the writing was on the wall for Reedy. A new hire taking your job is seldom a good sign unless it occurs along with a promotion.
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