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Vonage CEO to retire by the end of the year(Associated Press Via Acquire Media NewsEdge) HOLMDEL, N.J. (AP) — The CEO of the cloud-based communications company Vonage will retire by the end of the year. Marc Lefar, 50, has been with Vonage for six years. "After consideration about the long-term needs of the company as well as my personal goals, it became clear that now is the right time to select a new leader to help write the next chapter of the Vonage story," said Lefar. The company board has initiated a search for its new chief executive, and Lefar will assist. Both internal and external candidates are being considered, the company said. In November, the Holmdel, N.J., company bought fellow cloud-based communications company Vocalocity Inc. for $130 million in order to boost its presence in the in the small- and medium-sized business market. Shares of Vonage Holdings Corp. fell 2 cents to $4.11 at the opening bell. Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. |