Feldman Out at Force10
But some Securities and Exchange Commission (SEC) scrutiny of Feldman's prior job has made the change appear more dramatic, as Force10 continues to work toward becoming a publicly held firm.
Prior to joining Force10, Feldman was VP of corporate marketing and corporate development for Riverstone Networks Inc. (OTC: RSTN.PK) . Before that, he was senior director for worldwide product marketing at Cabletron Systems. Stephen Garrison, another former Cabletron executive, assumes Feldman's duties at Force10.
"I left for personal reasons; I was tired and needed a break," said Feldman, when reached at his home last week.
Force10 didn't offer comment on the transition except to reaffirm that Feldman's departure was voluntary.
What isn't voluntary is the attention Feldman has received based on the SEC's examination of his previous employer's financial practices. Feldman, along with four other former Riverstone Networks executives -- Romulus S. Pereira, Robert B. Stanton, L. John Kern, and William R. McFarland -– are accused by the SEC of defrauding investors in a revenue recognition scheme that allegedly took place from June 2001 through June 2002.
The SEC sued Feldman and the others on October 12, 2006, and the case is still pending. "Nothing good can come from me commenting on that," Feldman said, when asked about the suit.
Other changes in Force10's management ranks during the past year have included the addition of Karen Blasing as chief financial officer. Shortly after her appointment, the company began raising money and expanding into other markets, moves that would help its chances in the public markets. (See Force10 Round Hits $113M .)
While his immediate plans include travel and rest, Feldman says he hasn't thought about his next corporate endeavor. Force10's spokesman offered that Feldman was "working with VCs," including those on Force10's board, and "scoping investment opportunities."
Whatever his next steps, Feldman makes it clear that he's still pulling for Force10 to find its way to the public markets. "Force10 has a great team, and I remain deeply invested personally in their success –- in my heart and financially," he says.
— Phil Harvey, Managing Editor, Light Reading