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Extreme Networks replaces CEO, lays off 70

Tim Greene | Oct. 26, 2009
Ethernet switch vendor Extreme Networks is replacing its CEO and laying off 70 employees in an effort to quickly improve the company's bottom line and set it up to run profitably with lower revenues.

Insiders and channel partners said the firm seemed to be too focused on long range strategic planning instead of trying to figure out how to survive the dire economy.

Extreme's Chairman of the Board Gordon Stitt said in a written statement: "Management and the Board decided to take this action to streamline our operations, reduce our breakeven and create an operating model that will position Extreme Networks for sustained profitability as quickly as possible. These reductions have been taken across the entire organization. We remain committed to the products, markets, channels and customers and to continuing to introduce new and innovative products."

 

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