Overture Appoints New CEO
Carrier Ethernet access market leader Overture Networks Inc. has named Mike Aquino as its new president and CEO, with incumbent chief executive Jeff Reedy sliding along the management table to become chief strategy officer. (See Overture Appoints New CEO.)
Aquino joins from Ciena Corp. (NYSE: CIEN), where he was general manager of the global government solutions group. Prior to that he was Ciena's senior vice president and general manager of global field operations (sales, marketing and commercial management).
The access gear vendor says the appointment will "help guide Overture through its next phase of customer and revenue growth worldwide."
The company is doing OK already, though. According to Heavy Reading Senior Analyst Stan Hubbard (aka the Ether Man), who compiles the Carrier Ethernet Access Platforms Quarterly Tracker, "Overture has emerged as a standout player in the carrier Ethernet access/edge market in the past several years. Heavy Reading estimates that it slightly edged Huawei Technologies Co. Ltd. for the No. 1 position in the global Carrier Ethernet Access Platform (CEAP) market during the rolling four-quarter period ending in the second quarter of 2012."
"Overture was the market share leader in both Ethernet-over-bonded copper pair platforms and Ethernet-over-TDM access circuit platforms in the second quarter and is now among the top eight suppliers of Ethernet-over-fiber access platforms worldwide," he adds.
Why this matters
This announcement comes as a bit of a surprise as Overture has not been showing signs of needing new leadership.
"Jeff Reedy and the Overture team built up a strong and broad access portfolio and a large customer base that includes many Tier 1 and Tier 2 providers," notes Hubbard.
But every company needs fresh blood from time to time and a fresh perspective may be needed now that the merger with Hatteras, overseen by Reedy, is well behind it. (See Overture & Hatteras Gang Up on Carrier Ethernet and Overture, Hatteras to Merge.)
And there's no doubt the new CEO comes with a positive reputation. "Aquino has great customer relationships, especially in the government space, and is a strategic thinker. He may open up new doors on the sales side that have been closed up until now," adds Hubbard.
Overture had not responded to questions about why a new CEO was needed as this article was published.
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— Ray Le Maistre, International Managing Editor, Light Reading