Vonage hits new lows - CEO Resigns

By Vivek | April 12th, 2007 at 08:44 am ET         

It seems troubles are never going to end at Vonage. Now Mitch Snyder, CEO of Vonage, has resigned. His position has been taken up by Jeffrey Citron who is already onto cost cutting spree. According to MarketWatch, Citron has announced plans to cut marketing costs by $110 million in 2007, to $310 million. Vonage also said it would reduce other expenses by $30 million annually. Cost cutting aside can this change at top save Vonage from the patent mess. Either way, Vonage has to find workaround or eventually get shutdown. Citron has founded Vonage in 2001, and given up the top spot to Mitch before it’s IPO last year.