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Redback CEO Vivek Ragavan quits

Ela Dutt
India Abroad Correspondent in Washington

Redback Networks Inc (NASDAQ: RBAK), provider of next-generation equipment for metro access networks, announced on Monday that president and chief executive officer Vivek Ragavan has resigned to pursue other opportunities.

"Vivek was an important contributor to the company's transition after the merger of Siara and Redback. He oversaw the integration and helped set the product direction for the combined company. We thank him for his contribution over the last year and wish him well in his new endeavours," said Pierre Lamond, Redback's chairman.

Lamond is quoted in The Wall Street Journal as saying that the board had decided they needed somebody more experienced at the helm, but Ragavan maintained that his separation was "mutual and amicable".

The company has begun a search for a new president and CEO. In the interim, Lamond will act as CEO and an operating committee has been established to manage the day-to-day operations. The committee consists of Richard Bibb, senior vice-president of worldwide sales, Pankaj Patel, senior vice-president of research and development, Kevin Q Smith, senior vice-president of operations, and Dennis P Wolf, senior vice-president and chief financial officer.

Redback has been the target of acquisition for some time now and Lamond indicated some of that when he said, "The current business and product schedules continue to be on track with the guidance that we have previously given. Of course we continue to operate in a very uncertain business environment as do all of our competitors".

Redback Networks enables carriers and service providers to build next-generation metro broadband and optical networks. Founded in 1996 and headquartered in San Jose, California, with sales and technical support centres located worldwide, Redback Networks has a global customer base of more than 350 carriers and service providers, including major local exchange carriers, inter-exchange carriers and service providers.

Ragavan joined Redback in March 2000, when it acquired Siara Systems Inc, where he was CEO. The economic downturn has affected Redback no less than others and it reported losses in the first quarter to the tune of more than $400 million. It also cut back its workforce significantly.

With more than 20 years of executive management experience in the telecommunications industry, Ragavan was president of the Residential Broadband Group of ADC Telecommunications, Inc before he became CEO of Siara. At ADC, he was responsible for ADC's $300 million telecommunication equipment businesses focused on the broadband communication access and transport markets.

He also led development of General Instrument's leading digital video transport system, which powered the growth of cable TV's video and data services penetration. He received his BSEE and MSEE at Cornell University.

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