Avanex CEO Terminated, CFO Resigns

Avanex Corp. announced the termination of Jo Major as president and chief executive officer, due to the inability of Major and the board of directors to work together effectively. Major also resigned from the board. Giovanni Barbarossa, PhD, has been named interim CEO. Barbarossa has been with Avanex since February 2000, and has served as senior vice president and chief technology officer since May 2002. Previously, he ran the Active Component Business Unit. Avanex also announced the resignation of Marla Sanchez as senior vice president and chief financial officer. The board has begun a CEO and CFO search; Paul Smith, a current board member, has been named as nonexecutive chairman. Smith has served on Avanex's board since November 2007. He is currently president and CEO of PacketMotion, a network security company.