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Article: Founder returns at Vonage; Struggling firm replaces CEO amid falling share price and legal woes.(Business)
- Article from:
- Albany Times Union (Albany, NY)
- Article date:
- April 13, 2007
CopyrightCOPYRIGHT 2007 Albany Times Union. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: BRUCE MEYERSON - Associated Press
NEW YORK - Vonage, navigating its darkest hours in a grim first year as a public company, handed the reins back to founder Jeffrey A. Citron at least temporarily on Thursday as the Internet phone provider tried to shine a positive light on its plights in business and in court.
The resignation of Chief Executive Michael Snyder on Thursday follows an unnerving month for Vonage Holdings Corp., which popularized the idea of making calls over a high-speed Internet connection. With competitive pressures already savaging its business and stock price - wiping out $2 billion of investor wealth in just 10 months - Vonage is now facing ...