Ikanos Flips CEOs
Often, these changes come without much explanation as to what went wrong. But new CEO Michael Gulett, on Ikanos's earnings call minutes ago, was more direct, saying that as a board member and an investor, he's "been frustrated with a lack of growth on the top line."
Ikanos has been cutting costs, and Gulett says he's fine with the efforts along those lines. But he wants Ikanos's revenues to expand. The company's done a little bit to address that, buying up the Centillium Communications Inc. DSL business. (See Centillium Unloads DSL Business to Ikanos.)
Gulett just started his job today and says he won't be ready to discuss his new plan for Ikanos until next quarter's earnings call.
Gulett is replacing Michael Ricci, a former Intel Corp. (Nasdaq: INTC) and JDSU (Nasdaq: JDSU; Toronto: JDU) executive who'd taken over last year.
Gulett has been CEO at a number of chip companies; I met him more than a decade ago when he ran Paradigm, an SRAM startup that got overrun when Intel started adding SRAM to its processors. (That made Intel a major SRAM buyer and a kingmaker; Paradigm lost out.)
— Craig Matsumoto, West Coast Editor, Light Reading