- Push-out Score determined
- After almost 20 years in the position
- Praise for Russo
- Michael Weening taking over
- Russo will remain as Chairman at Calix
- Russo said 81 words
(exechange) — San Jose, California, October 3, 2022 — Carl Russo, chief executive of Calix, leaves his position. As announced by Calix Inc. in a news release and in a regulatory filing published on Monday, October 3, 2022, Carl Russo has left his post as chief executive officer at the telecommunications equipment company, after almost 20 years in the role, effective September 30, 2022.
It is the end of an era.
Carl Russo’s duties as CEO will be taken over by Michael Weening, most recently president and chief operating officer at Calix Inc.
“Capitalize on the opportunity”
Calix did not give an explicit reason for Carl Russo’s departure from the CEO post. Calix said: “The broadband industry is benefiting from significant private and public investment across markets and segments. Mr. Weening assumes the leadership of Calix as it is positioned to capitalize on the opportunity.”
Russo will remain as Chairman at Calix
“Carl Russo continues as Chairman of the Board of Directors,” Calix said.
“Resigned”
Calix said: “On September 30, 2022, Calix, Inc. (“Calix” or the “Company”) appointed Michael Weening, age 54, to the position of Chief Executive Officer of the Company effective September 30, 2022. Mr. Weening will continue to serve as President of the Company and resigned his role as Chief Operating Officer in connection with his promotion. Also on September 30, 2022, Carl Russo resigned his role as Chief Executive Officer effective September 30, 2022 and will continue to serve as Chairman of the Board of Directors of the Company.”
Share price increase since October 2017
The announcement follows an increase in Calix Inc.’s share price of 1076% since October 2017.
In the position of CEO since 2002
Carl Russo became CEO of the Company in 2002.
Russo has served as Calix’s chief executive officer since December 2002, as the Chairman of the Board since July 2021, and has also served as president from December 2002 to January 2021.
From November 1999 to May 2002, Russo served as vice president of optical strategy and group vice president of optical networking of Cisco Systems, Inc.
From April 1998 to October 1999, Russo served as president and chief executive officer of Cerent Corporation, which was acquired by Cisco.
From April 1995 to April 1998, Russo served in various capacities, including as chief operating officer, at Xircom, Inc., which was acquired by Intel Corporation.
Previously, Russo served as senior vice president and general manager for the hyperchannel networking group of Network Systems Corporation and as vice president and general manager of the data networking products division of AT&T Paradyne Corporation.
Russo served on the board of directors of Vital Network Services, Inc., a privately-held company delivering network lifecycle services, and Xirrus, Inc., a privately-held company providing products that enable high-performance wireless networks.
Russo attended Swarthmore College and previously served on its board of managers.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Carl Russo’s move on a scale of 0 to 10.
exechange reached out to Calix and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 41.2022 ($).