SPOTLIGHT: Sonus Networks rewrites corporate governance policies

In the space between Christmas and New Year, Sonus Networks pushed out a press release announcing a number of changes in how it is governed.  Hmm.

In the release, the Board of Directors said it has "undertaken measures designed to strengthen its corporate Governance policies."  The moves included the distribution of a proposal to declassify its Board at the 2009 annual stockholders meeting with exact details to be sent out in the future, the separation of the roles of Chairman and CEO, and the announcement of Ed Anderson's retirement from the board; Anderson had been a sitting board member for more than a decade.

Board member Howard Janzen has been appointed the non-executive Chairman of the Board effective immediately. Janzen has been a director since January 2006.

Normally, such measures wouldn't merit more than a footnote. Given the continued housecleaning CEO Richard Nottenburg has engaged in since being hired in May and the ongoing disputes with largest-investor Legatum Capital, you have to wonder if there isn't some deeper realpolitik going on, especially with an end-of-year announcement.

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