Avanex Boots CEO; CFO Resigns; Stock Tumbles

Avanex (AVNX), which makes optical networking components, this morning announced that its board
“terminated” President and CEO Jo Major due to “the inability of Dr. Major and the board of directors to work together effectively.” The company also said CFO Marla Sanchez has resigned.

Current CTO Giovanni Barbarossa was named interim CEO; Director Paul Smith was named nonexecutive Chairman.

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