Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Effective on January 14, 2013, GigOptix and Julie Tipton agreed to the cessation of Ms. Tipton's services as GigOptix' Senior Vice President of Operations. Ms. Tipton's last day working at GigOptix will be January 31, 2013. GigOptix will consolidate the role of principal operating officer with the role of Chief Executive Officer, and Dr. Avi Katz, the Company's current Chairman of the Board of Directors and Chief Executive Officer, will assume this additional role.
Look at the history.
I'd post the link, but Yahoo sucks.
"Nobody envied Tom Alexander when he took over as Intransas CEO last July. (See Intransa Trades In CEO.)
In the months leading to Alexander’s replacing Avi Katz as CEO, the IP SAN startup had undergone an executive exodus that included the loss of founder and CTO Peter Wang, not to mention the CFO and VPs of engineering, global operations, and marketing. (See Intransa's in Transition and Ex-Intransa Trio Aids Startups.) The revolving door lent credence to talk that the startup was rapidly burning thorough the $25 million in funding it secured in August 2004.
To make matters worse, the company’s influential chairman Eric Benhamou departed soon after hiring Alexander. "
Another role for AVI to save money, I guess, or just temporary holding of the position. Tipton- being released or does she see the company's failing state. We already know the earnings should be almost non existant, unless AVI pulls a rabbit out of the hat. Promise here, but can it ever come together? Dog.