Shares of networking-services provider GTT Communications (GTT) - Get Report are down Tuesday after the company said Chief Financial Officer Mike Sicoli was stepping down on Sept. 30. 

The McLean, Va., company said it had initiated a search for a new CFO. It named Dan Fraser interim CFO; he currently is senior vice president, principal accounting officer and global corporate controller. 

Sicoli said in a statement that GTT "is on the right path for long-term success, and I plan to remain a significant shareholder." GTT said he was leaving to take a "more senior role with a data center and cloud solutions provider."

GTT shares were trading above $60 some 17 months ago. The shares on Tuesday were trading off around 9% at $8.17; they'd earlier traded as low as $7.55. 

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