Calix IPO Still on Hold
Calix Inc. (NYSE: CALX) may have just appointed a new finance chief, but that doesn't mean the access equipment vendor is gearing up to go public anytime soon, according to CEO Carl Russo.
Kelyn Brannon-Ahn (try saying that after a few bottles of vino collapso) has joined the Calix top team as the new CFO, taking over from Michael Ashby. (See Calix Appoints CFO.)
But Russo is still keeping his powder dry on any IPO plans.
Rumors of a potential Calix IPO surface with almost monotonous regularity, most recently following a $57.5 million round of funding the company picked up last summer. (See Calix Gets More Funding.)
But Russo is renowned for lauding the competitive advantages of keeping his company private. In a 2005 interview with Light Reading, Russo said: "If you're public, your numbers are in public, your business model is public. I love quarterly reports because you get a chance to see how your competitors are doing. I'd much prefer them not to see how we're doing." (See Full Transcript of LRTV’s Interview With Carl Russo, CEO, Calix .)
And he's sticking with that line. "Does this [appointment] change our view of the public markets? No," Russo told Light Reading today. "We might be public at some point in time in the future, but today we have no plans to go public."
Brannon-Ahn brings with her more than 20 years of financial experience, primarily in the software industry. She most recently served as CFO of Calypso Technology, a maker of financial software products. Prior to Calypso, Brannon-Ahn worked at Amazon Web Services Inc. , Sun Microsystems Inc. , Lexmark International Inc. (NYSE: LXK), and Ernst & Young International .
So why the jump into the telecom sector? Brannon-Ahn says it's due in part to demand for different accounting skills. "Telecom has recently come over to software revenue recognition requirements, so telecom folks are reaching out to people like myself to come in," she says.
Ashby, who was Calix's CFO for more than five years, is retiring, but will retain his position on Calix's board.
— Ryan Lawler, Reporter, Light Reading