JDSU's Kennedy Lands at Avaya
JDSU (Nasdaq: JDSU; Toronto: JDU) chief executive Kevin Kennedy, who announced his retirement yesterday, will be taking the CEO spot at Avaya Inc. starting in the new year.
Avaya made the announcement today. Kennedy will remain with JDSU through Dec. 31 and will continue to serve on JDSU's board as vice chairman after joining Avaya. (See Avaya Grabs JDSU CEO.)
Kennedy made the surprise announcement of his retirement during yesterday's JDSU earnings conference call. (See Kennedy Bids JDSU Adieu .)
Avaya's interim CEO has been Charles Giancarlo -- a Cisco Systems Inc. (Nasdaq: CSCO) alumnus, like Kennedy himself. Giancarlo left Cisco last year to join Silver Lake Partners , and it's through that job that he temporarily took the reins at the enterprise voice systems vendor. (See Giancarlo Quits Cisco, Paddles to Silver Lake and Giancarlo Steps in at Avaya.)
Giancarlo replaced Lou D'Ambrosio, who stepped down in June for health reasons.
Avaya went private last year in a $8.2 billion takeover by private equity firms Silver Lake and TPG Ventures . (See Avaya Agrees to $8.2B Takeover.)
— Craig Matsumoto, West Coast Editor, Light Reading