Industry Vet Takes Extreme CEO Job
Rodriguez will take the reins at the Ethernet equipment vendor on August 23, filling the job that Mark Canepa vacated in October last year when he resigned as president and CEO, and the company cut its workforce by about 9 percent. CFO Bob Corey has been keeping that seat warm, though, since he has filled in as acting CEO since then.
Rodriguez is currently CEO of Movius Interactive Corp. , a messaging and mobile media specialist, and his 20-year carrier spans various roles at telecoms networking firms. Before joining Movius in 2007, Rodriquez was chief marketing officer at Alcatel-Lucent (NYSE: ALU)'s enterprise business group. He was president and CEO of Riverstone Networks before it was acquired by Lucent in 2006. He has also served as president at Nortel Networks Ltd. enterprise solutions and intelligent Internet divisions. (See Lucent to Spend $207M for Riverstone.)
He comes to Extreme after the company has undergone a cost-cutting restructuring process that involved a workforce reduction of about 9 percent, or 70 employees, in October last year. (See Extreme Cuts 70.)
"In recent months, Extreme Networks has streamlined the organization and reignited the aggressive, competitive passion that made the Company a leader in its space," Rodriguez said, in a press statement. "The Company has a highly motivated executive team and its product line-up has never been stronger. I am eager to get to work and begin exploring new areas for growth."
On Monday, the company reported results for its fiscal fourth quarter ending June 27: Net revenue was $85.5 million in the quarter, up from $78.2 million in the previous quarter. The company said that product revenues in North America and the Europe, Middle East, and Africa region were up 17 percent and 22 percent, respectively, from the previous quarter, as a result of entering new markets and adding new customers.
According to Heavy Reading's latest Carrier Ethernet Switch/Router Quarterly Market Tracker, worldwide sales of CESR equipment grew 14 percent year-over-year to $492 million in the first quarter of 2010, and the North American market performed particularly well compared to other regions. Extreme is highlighted as one of the equipment suppliers that recorded double-digit North American sales growth in the first quarter of this year compared to the fourth quarter of 2009, along with Cisco Systems Inc. (Nasdaq: CSCO), Brocade Communications Systems Inc. (Nasdaq: BRCD), and Ciena Corp. (NYSE: CIEN). (See Carrier Ethernet Market Off to Good Start in 2010.)
— Michelle Donegan, European Editor, Light Reading Mobile