Tuesday, June 14, 2011

Ikanos Appoints Banatao as CEO, Reconfirms Q2 Guidance

John Quigley has resigned as president and CEO of Ikanos and as a member of its board of directors. The company named Diosdado Banatao, the executive chairman of Ikanos, as interim president and CEO effective immediately. A permanent CEO is being sought.

Banatao has been the Company's chairman of the board since August 2009 and executive chairman of the board since April 2010 and previously served as the Company's interim president and chief executive officer from April 2010 to July 2010. Banatao has served as a founder and managing partner of Tallwood Venture Capital, a venture capital firm, since July 2000.

In addition, the company confirmed its revenue and earnings outlook for the second quarter of fiscal 2011. The Company expects its revenues for the second quarter to be between $31.0 million and $34.0 million.http://www.ikanos.com