Ikanos CEO Steps Down

Rajesh Vashist has stepped down as chairman and CEO of Ikanos; CFO Daniel Atler will assume the role of interim CEO

October 24, 2006

1 Min Read

FREMONT, Calif. -- Ikanos Communications, Inc. (NASDAQ: IKAN), a leading developer and provider of Fiber Fast™ broadband solutions, today announced that Rajesh Vashist has stepped down as chairman and chief executive officer, effective immediately. Daniel K Atler, the Company’s chief financial officer, will assume the role of interim CEO while a search is conducted for Mr. Vashist’s replacement. In addition, G. Venkatesh has been named as executive chairman of the Ikanos Board of Directors. Mr. Cory Sindelar, currently vice president of finance, will assume the role of interim chief financial officer during this period.

Ikanos is a leading provider of Fiber Fast broadband solutions. Ikanos’ multi-mode VDSL2 and VDSL chipsets have been field-proven in commercial deployments and remain the most popular in the industry, with more than 15 million ports shipped. Ikanos’ Fusiv® network processors are being used in some of the world’s largest triple play deployments, with over three million chipsets shipped to date.

"Under Rajesh’s leadership, Ikanos became the market leader in providing triple play solutions," said G. Venkatesh, executive chairman of the Board of Directors, Ikanos Communications. "On behalf of our entire board and all of our employees, I want to thank Rajesh for his significant contributions to Ikanos and wish him success in his future endeavors."

Ikanos Communications Inc. (Nasdaq: IKAN)

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