Love Lost for Tellium
At the time of his appointment, Weisberg, who had spent more than 25 years working on mergers and acquisitions, was thought to be working on the M&A front. Many in the industry began speculating that his appointment to the board signified the company was shopping itself around (see Tellium: Up for Sale?).
But after a full year in his position, nothing has materialized. The company’s stock price, along with its revenues, has continued to plummet. Now, Weisberg’s departure could be a sign that the company is looking at other alternatives. A private investment firm has been rumored to be sniffing around for the past few months (see Tellium Takeover Plan Brewing). With few customer prospects and a sagging stock price, Tellium may have no other choice but to consider such proposals.
No specific reasons were given for why Weisberg left. Tellium officials couldn’t be reached for a comment. In the press release Harry Carr, Tellium’s chairman and CEO, said, "Marc's counsel and advice were very helpful during these past twelve very challenging months for us. I want to thank Marc for his contributions to Tellium and wish him all the best."
— Marguerite Reardon, Senior Editor, Light Reading