No, not by that ridiculously run company, but by their ex-CEO Michael Snyder who jumped off that sinking ship and left the architect of this disaster Jeffrey Citron in charge to go down with it. You can read the details in this WSJ article called Vonage Says CEO Resigns, Sets Cost-Cutting Plans or if you want to read the details in an always entertaining PR release from Vonage you can find it here. BTW - Vonage must have two PR authors - the one that takes happy pills before they write a release or the one that is more rationale and writes realistic releases.
Not only is the CEO getting away, they are cutting marketing costs (geniuses right?), general and administration costs (read head count reduction), and still have problems with Verizon. They did say they had an average CPA of $275 which is still horrible in the telecom world (it should be way under $100) and their churn is awful at 2.4% and that probably doesn't take into account all of their patent problems which just started creeping up.
This company is going down fast and surely the only reason Citron is taking over is because he has a personal stake in not just money, but in his own personal reputation with some serious investors. For an interesting spin on this, read this link that I posted a few days ago called Vonage: The Conspiracy Theory. You'll see this interesting view:
Despite all the King's men (major phone companies for this story) out for blood against Vonage I can't help but think these major investors would like to get their money back. Not only would these investors like to get their money back, but these guys want to make a profit, they want a good ROI (Return on Investment)......Even Enron went on for years before the scandal erupted and the investors and board of directors made millions before they lost everything. How many companies do you think faced similar fates but the news just never got out or received the attention it deserved?