Enterasys pins hopes on big business directors
- 07 June, 2002 10:54
Embattled networking vendor Enterasys Networks is betting its future on a newly appointed management team and a channel strategy that revolves around three core product offerings.
Enterasys has appointed William O'Brien as an interim CEO, while president Yuda Doron has assumed the role of chief operating officer. The appointments follow the mass resignation of former CEO Enrique Fiallo and COO Jerry Shanahan after Enterasys released revised revenue estimates for the fourth quarter, to December 29, 2001, of approximately $145 million to $155 million.
Executive vice president of marketing JE Riddle also walked out. Mads Lillelund, executive VP of worldwide sales and marketing, has absorbed his role.
O'Brien, a former senior partner with PricewaterhouseCoopers, and Doron, a former channels manager of Computer Associates, are both ex-large-company executives and Enterasys hopes their experience will bring the beleaguered company to its stated aim of being a $5 billion entity by 2005.
Meanwhile in the US, Enterasys has announced that its board of directors approved the adoption of a shareholder rights plan. The rights plan is designed to protect stockholders from attempts to acquire Enterasys while the stock price is judged inappropriately low (by Enterasys), or through tactics that could deny all stockholders the opportunity to realise the full value of their investment.