Shares of networking-services provider GTT Communications (GTT) 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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