Cabletron loses two more executives
Two more Cabletron executives leave the struggling networking firm, less than a week after cofounder and CEO Craig Benson resigned.
John d'Auguste, Cabletron's president of operations, and Allen Finch, vice president of marketing, resigned yesterday to pursue other opportunities, a Cabletron spokesman said today. The company is currently seeking replacements, he added.
Last Friday, Piyush Patel, the company's senior vice president for Cabletron's research and development team, replaced Benson as CEO, president and chairman. Benson will remain a Cabletron director.
The two new resignations come amid continued rumors that the company could be a buyout target.
As the company was once a fierce competitor for the likes of the former Bay Networks and Cisco Systems, Cabletron has been relegated to second-tier status of late while competitors shift strategies to tackle the booming market for Internet service provider and telecommunications equipment.
Speculation is also rampant that Cabletron could spin off a portion of its business--its Spectrum network management software division is the most likely--to reap rewards on Wall Street.
The company spokesman declined to comment on the buyout rumors.