Beleaguered VoIP firm, Vonage, on Thursday announced that its CEO Michael Snyder, has stepped down and resigned from the company’s board of directors.

Vonage also announced that Jeffrey A. Citron, the company’s chairman, has been appointed as the interim CEO and is expected to serve on a short-term basis. In a statement, Vonage said it will commence a search for Mr. Snyder’s replacement “immediately”.

Citron said: “Mike has made valuable contributions to the growth of our business and we will miss him. We thank him and wish him well in his future endeavours.”

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