Sunday, January 11, 2009

Sonus Reaches Agreement with Major Shareholder

Sonus Networks and Legatum Capital Limited, Sonus' largest stockholder which currently owns approximately 65 million shares, or 25 percent of Sonus common stock, announced an agreement to add two new independent members to Sonus' Board of Directors. The directors will be designated by Legatum, subject to the terms of the agreement.

Sonus Networks also announced a number of structural changes to its Board, including separating the roles of chairman and chief executive officer.

See also