Riverstone founders leave board
Riverstone Networks founders Piyush Patel and Romulus Pereira this week resigned as board member and chairman of the board, respectively. Patel was previously chairman of the board before being replaced by Pereira in April. Pereira was previously president and CEO the metro Ethernet equipment vendor before being replaced by Oscar Rodriguez in August. The company said it has no plans to replace Pereira at the moment, but it has named independent director William Weyand as Lead Director, a role meant to “ensure that the board executes its mandate effectively, efficiently and independently of management.” The firm faces an ongoing SEC accounting investigation and a struggle to grow revenues.
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