|
|
Article: Vonage to cut expenses after chief steps down
- Article from:
- International Herald Tribune
- Article date:
- April 13, 2007
- Author:
CopyrightProvided by ProQuest LLC. (Hide copyright information)
|
Laurie J. Flynn
International Herald Tribune
04-13-2007
Vonage Holdings, a leading U.S. Internet phone company, said Thursday that its chief executive had resigned and that Jeffrey Citron, the company's founder, would take over temporarily as a legal battle with Verizon intensified. Michael Snyder, who led Vonage for slightly more than a year, stepped down Wednesday, the company said. Citron, who is chairman, was chief executive until last year.Citron immediately announced plans to restructure the company and reduce marketing costs by $110 million in 2007, to $310 million. The company also said it would reduce other expenses by $30 million more each year.Vonage, based in Holmdel, New ...