Meru Networks boss steps down as sales rise 20%


Meru Networks boss steps down as sales rise 20%

Alex Scroxton

Meru Networks president and CEO Ihab Abu-Hakima is to step down from the wireless infrastructure vendor, with new management to be phased in by April 2012.

Abu-Hakima, who joined Meru in 2005, said he felt he had achieved his "personal and corporate" goals and wanted to leave the firm in good shape. He will remain on board to help steer the search for his replacement.

The firm also announced preliminary financial results for its third quarter, saying it expected to report sales of between $23.2m and $23.7m, above analyst estimates and up roughly 20% year-on-year.

An anticipated non-GAAP net loss of around $0.23 per basic and diluted share will reflect the acquisition of Manchester-based Identity Networks last month, said Meru.

"We continue to see broad-based strength across our target markets, which we believe is further evidence of the demand for our network in control wireless LAN solutions," said Abu-Hakima.

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