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Marc Lefar CEO to replace Jeffrey Citron: a non-executive chairman and “a consultant on long-term strategy.” for Vonage Holdings

By Amarendra Bhushan for CEOWORLD Magazine Updated:July 30, 2008

Web-based telephone service provider Vonage Holdings Corp named Marc Lefar as CEO (former Cingular Wireless executive, chief marketing officer), replacing founder Jeff Citron, who becomes non-executive chairman and “a consultant on long-term strategy.” Cofounder and Chairman Jeffrey Citron became interim CEO of Vonage since Michael Snyder resigned in April last year to stabilize the company, which was crushed by lawsuits like Verizon and Sprint.

- Silver Point Finance LLC it to provide $215 million in private debt financing.

About Vonage

Vonage is a leading provider of digital phone services with over 2.6 million subscriber lines. Our award-winning technology enables anyone to make and receive phone calls with a touch tone telephone almost anywhere a broadband Internet connection is available. We offer feature-rich and cost- effective communication services that offer users an experience similar to traditional telephone services.

Our Residential Premium Unlimited and Small Business Unlimited calling plans offer consumers unlimited local and long distance calling, and popular features like call waiting, call forwarding and voicemail — for one low, flat monthly rate. For more information about Vonage’s products and services, please visit http://www.vonage.com.

Marc Lefar new CEO Vonage Holdings Corp, who has never headed a public company before. Can he sail the boat under Struggling with tough competition?

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