CDNetworks President Steve Liddell Resigns, Replaced By John Milburn

CDNetworks has confirmed that Steve Liddell resigned today and has been replaced by long time CDNetworks board member John Milburn. Steve held the title of President of CDNetworks International and was opointed to that position after the company he was CEO at, Panther Express, was acquired by CDNetworks in February of this year.

John is a member of the CDNetworks Board of Directors, representing Oak Investment Partners, and was instrumental in organizing the syndicate of investors that provided $96.5 million in funding to CDNetworks in December 2007.

CDNetworks says John has served as an advisor or board member for many ISPs and Telcos in Asia and several Silicon Valley based companies, including Juniper Networks, AboveNet and Aleton Websystems. John recently served as the chief negotiator for the sale of GMarket to eBay for $US 1.2 billion dollars. 

This move comes at an interesting time as I was just saying to someone the other day that it seems like CDNetworks has been really quiet in the U.S. lately and has not made much noise since the Panther acquisition. Of the contracts I have seen in the market for CDN services it seems like CDNetworks name isn't showing up as often. Not sure what to attribute this to, but I'll be speaking with John before too long to hear his strategy on how CDNetworks plans to try and really crack the U.S. market.

Updated 2:14pm - When reached by phone, Steve Liddell said his main goal after the Panther acquisition was for him to stay on board and make sure the integration between the two companies went smoothly. He says with the integration now done and completed about 90 days later, it was time for him to move on to a yet undetermined new opportunity.

Comments

[Not Surprising]

Since Panther was a fire sale (and then some), and it is unlikely that he didn't have any appreciable equity left, he probably had a bonus to stay on and make sure the acquisition wasn't a total disaster. As soon as that was done he didn't have a good reason to stay.

Pretty typical really.