As previously rumoured, Subex has announced that Surjeet Singh will take the role of CEO and Managing Director; see the press release here. Singh was formerly the CFO of Patni. He replaces Subex founder Subash Menon, who stepped down from the job of CEO after successfully renegotiating Subex’s finances.
However, the Subex rumour-mill continues to spin in overdrive, with lots of speculation about further changes to their management. Whilst Subex’s website has been updated to include Singh as the head of the exec team, several other execs are no longer listed. Amongst the missing execs are: COO Sudeesh Yezhuvath; CTO Mark Nicholson; and VP Finance Ramanathan J. It would not be surprising if Singh wants to bring in some new faces to freshen up Subex, which reported poor results in Q1. With several old hands leaving at once, the challenge will be to bring in top-notch replacements with minimal delay, and to put the focus back on competing in a ruthless marketplace.
In the press release, Singh hinted at a change of Subex’s strategy, which in recent years has concentrated on cutting costs in order to improve profitability:
I look forward to working closely with all Subexians, its customers and investors to charter its new growth phase and maximize value for all stakeholders
If growth is the goal, then Subex cannot afford to delay its search for new winning formulas. With Connectiva recently resurrected, and price competition as tough as ever, Subex needs to move quickly if it wants to get ahead of its rivals.