Vonage Holdings CEO To Retire

(RTTNews) - Vonage Holdings Corp. (VG) Monday said its Chief Executive Officer Marc Lefar intended to retire soon after a new successor has been selected. Lefar will will continue in the same position until the company is able to replace him, that is expected by year-end.

The board is on the look out for a new Chief Executive considering both internal and external candidates for the position.

Vonage's Chairman Jeffrey Citron commented : "Under Marc's leadership, Vonage has enjoyed five consecutive years of profitability and four consecutive years of positive free cash flow, allowing the company to invest for growth while delivering significant value to shareholders ,we are grateful for the work Marc has done, and look forward to continuing to work with him as we conduct our search for his successor."