Networking powerhouse Bay Networks Inc. announced today that Executive Vice President and Chief Financial Officer William Ruehle has tendered his resignation. Ruehle's departure will become effective upon the appointment of a successor.
Ruehle, who joined SynOptics Communications Inc. in 1987 before that company's merger with Wellfleet Communications Inc. to form Bay Networks, said it was time to "transition to something new."
"With the advent of outstanding new leadership at Bay, this seemed like a particularly opportune time to make a move," he said.
Bay Networks ended its long search for a chief executive late in October with the appointment of David House as chairman, president and CEO of the Santa Clara, Calif., computer networking equipment supplier. House had spent 22 years at Intel Corp.
"The company is indebted to Bill Ruehle for his role in building SynOptics from a $2 million company through its merger with Wellfleet to today's $2 billion Bay Networks," House said in a statement.
Bay Networks can be reached at www.baynetworks.com.