On the same day that set-top box vendor giant Pace (LSE: PIC) saw its CEO step down, fellow set-top box vendor Amino Communications (LSE: AMO.L) also saw its CEO depart. Amino CEO Andrew Burke, who had been leading the company since 2008, stepped down to pursue other opportunities.
The timing of the moves might offer evidence of how turbulent the set-top box market remains as the sector deals with poor purchasing forecasts and an evolution away from traditional set-top boxes.
Burke's move came shortly after Pace announced that longtime CEO Neil Gaydon was departing. Pace has seen global market share growth in recent years and was aggressive in acquiring companies like U.S.-based 2Wire, but more recently was affected by financial troubles, some relating to manufacturing and shipping delays after the earthquake in Japan and severe floods in Thailand.
Amino has been in a different situation as an up-and-comer in the market, and particularly aggressive in its development of hybrid set-top boxes with over-the-top capabilities. The company recently announced that it had surpassed 4 million set-top box shipments, and also was soon expecting it first profit.
Burke had first joined Amino in 2007 and became CEO the following year. He will now be replaced by Donald McGarva, who had been COO of Amino.
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Pace saw stock value plunge earlier this year
Amino has seen its revenue jump from OTT