Calix CFO William Atkins leaves at short notice

  • Signs for push-out forces
  • After around three years on the job
  • Laud, praise, thanks and good wishes for Atkins
  • Search for a successor
  • Atkins said 52 words

(exechange) — Petaluma, California, March 31, 2017 — William Atkins, finance chief of Calix, leaves. It is a change at short notice. As announced by Calix, Inc. in a news release and in a regulatory filing published on Friday, March 31, 2017, William J. Atkins, Chief Financial Officer, leaves the telecommunications company in a surprising move after around three years on the job, effective May 19, 2017.

Calix will undertake a search for a successor.

“To pursue another opportunity in the industry”

The imminent management change is explained as follows. Calix said: “William Atkins, Executive Vice President and Chief Financial Officer, has given notice that he will be leaving the Company on May 19, 2017 to pursue another opportunity in the industry.”

The phrase “to pursue another opportunity” is often used in corporate announcements and opens the door to speculation.

Precise information about the future plans of Atkins was not immediately available.

Share price decline

The change follows a decline in the share price of Calix, Inc. since November 2014.

Chaired by Don Listwin

Calix, Inc. is chaired by Don Listwin.

Listwin has served on the Board since January 2007 and has served as chairman since July 2007.

CEO: Carl Russo

Carl Russo serves as CEO of Calix, Inc. Carl E. Russo has been the Chief Executive Officer and President of Calix since December 2002.

On the job as CFO since 2014

Atkins has been the Chief Financial Officer and Executive Vice President at Calix Inc. since February 10, 2014.

Prior to Calix, Atkins was a senior partner at Fairfax Media Partners, LLC, a Washington DC area investment and advisory firm.

He also served as CFO of Rivada Networks International, LLC, a provider of mobile emergency communications equipment and services for the homeland security and public safety sectors and as EVP and CFO of Intelsat, Ltd., the world’s largest fixed satellite telecommunications services operator.

Before joining Intelsat, Atkins held various positions at Morgan Stanley, including head of European telecommunications corporate finance, head of European corporate finance execution and deputy head of investment banking in Tokyo.

Prior to Morgan Stanley, he co-founded the telecommunications investment banking practice at S.G. Warburg.

Atkins has a BA and an MA from Stanford University.

Unplanned

As a general rule, when a top leader announces to step aside with no successor available, it is a sign that the move was unplanned and too early.

Signs for push-out forces

It is not completely certain what forces eventually triggered William Atkins’ imminent move.

The Push-out Score™ determined by exechange suggests that push-out forces may have contributed to the management change.

Read the full story in the exechange report 14.2017 ($).