Pratt Leaves Marconi
"It was [Pratt's] decision to leave, and his departure will not impact our ability to support our customers and offer solutions in the access space," says Jim Blew, a Marconi spokesman.
Pratt's decision likely came because of Marconi's restructuring of its access division. Earlier this year, Marconi said it would nix its deep fiber PON (passive optical network) gear business, that it would reevaluate its WipLL (Wireless IP Local Loop) operations, and that it would refocus its MDMS (Marconi Digital Multipoint System) and point-to-point MDRS (Marconi Digital Radio System) activities (see Marconi to 'Streamline' Access ).
Pratt joined Marconi in 1999 when it acquired Reltec, a U.S. access equipment maker with more than $1 billion annual revenues, for $2.1 billion in cash. Pratt was a VP and general manager of Reltec's access systems group; he had been with the company since July 1996. Prior to Reltec, Pratt held an assortment of jobs at DSC Communications Corp. (now Alcatel SA [NYSE: ALA; Paris: CGEP:PA]).
Dave Smith, executive VP of Marconi's Outside Plant and Power group, will take on Pratt's responsibilities.
Marconi announced a quarterly loss of £108 million (US$157 million) and, in a trading note this morning, gave an update of negotiations with banks and bondholders to secure a refinancing deal (see Marconi Takes $156.4M 4Q Loss ).
— Phil Harvey, Senior Editor, Light Reading