BigBand Networks said that chief financial officer Fred Ball plans to resign “to pursue personal interests,” three weeks after the company said its third-quarter revenue would be as much as 40% lower than previously expected.
BigBand said it has begun a CFO search with an executive-search firm. Ball will remain CFO through a transition period and will continue in an advisory role afterward.
“We are most grateful to Fred for the expertise and leadership he has provided since he joined the company in 2004,” BigBand president and CEO Amir Bassan-Eskenazi said, in a prepared statement.
For his part, Ball said, in a statement: “I am grateful to Amir and the team at BigBand for the opportunity to be part of a great company at an exciting stage in its growth.”
Last month, BigBand said revenue for the quarter ending Sept. 30 would be $35 million to $39 million compared with its previous guidance of $54 million to $58 million. The company, whose customers include Time Warner Cable, Cox Communications, Cablevision Systems and Verizon Communications, is scheduled to report third-quarter results Oct. 30 after the market closes.
