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Beached Mahi-Mahi

October 25, 2004

Light Reading reports that big hitting, former ADC Telecommunications CEO Bill Cadogan will replace Mahi’s current CEO Chris Rust. Cadogan is leaving his place as a VC with St. Paul Ventures while Rust says he will return to his roots as a VC. Does the ascension of Cadogan from board member to CEO mean that Mahi is on the right track? We think it’s more likely that Mahi is stuck in its negotiations with telcos. The company decided that changing faces might be the only way to get talks going again. If the company was thriving, its doubtful the board would have ousted Rust.
Read – Rust Out, Cadogan in at Mahi (Light Reading)

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