Neutral Tandem operating as Inteliquent (Nasdaq:IQNT) continues to stumble through the desert. Sudden resignations by its former Chief Operating Officer and Chief Financial Officer, Surendra Saboo and Robert Junkroski, respectively does not bode well. The resignations were not expected. A replacement CFO is planned for but these things cannot be rushed into.
Revenue guidance has been adjusted downward and then these two bolt for the hills. Multiple brokerage firms are downgrading their investment recommendations because suddenly the future looks worse. These financial cheerleaders are flabbergasted by it all. Which means they had no inkling of the root causes for the executive mutiny.
The question becomes do we know all. Answer. No certainly not. You can just see the class action lawyers circling. You can smell the blood in the water. Intelliquent needs to come clean and re-develop any shareholder trust. Can you imagine what they have to tell prospective CFO’s just to get them to consider an interview once they figure out the name.
George Gutowski writes from a caveat emptor perspective. Follow him on twitter@financialskepti
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- Inteliquent Announces Changes to Its Management Team (virtual-strategy.com)