Executive Exodus Continues at Wavve

July 5, 2001 -- Struggling colocation and hosting provider Wavve Telecommunications said last week that president and chief operating officer David Furnas had left the company, barely six weeks after assuming the two leadership positions.
Also leaving the company is Duane Cooney, vice president of managed services. In a press release, Wavve said the pair departed "for personal reasons." On June 5, the Sacramento-based company announced the resignation of two other key employees, vice president of legal affairs Diana Bushard and Greg Miller, senior vice president for sales & business development.
Chief financial officer Louis Kirchner will add the titles of president and COO previously held by Furnas. In addition, Justin Van Abrahams and Matt Goff, both original founders of the company, were appointed to the board of directors. Furnas and Rusty Hale have resigned from the board.
"We are delighted to welcome both Justin and Matt who will offer invaluable insight into taking Wavve forward, and we wish Rusty and David the best," said Bob Ingraham, Chairman of the Board of Directors. "Their contributions to the Wavve Board are appreciated by everyone."
In May, Wavve said it may cease operations if it cannot raise additional funding. In April, the Sacramento-based colocation provider said it would cut its staff by a third and reorganize its operations.
Wavve Telecommunications, Inc. is a provider of colocation, network connectivity, Internet and managed services.