TECHNOLOGY & TELECOMMUNICATIONS
Times Staff and Wire Reports
Xylan Chief Financial Officer Resigns: Stephen Cordial quit after 10 months on the job amid reports of conflicts with Chairman Steve Kim. The resignation capped a day of rampant speculation about Cordial’s future. Xylan Corp.’s stock closed down $5 at $37.50 on Nasdaq. The Calabasas company, which makes switching systems for computer networks, said only that Cordial was leaving to “pursue other interests” and emphasized that there was no problem with its finances. Xylan shares have fallen by almost half since setting a 52-week high of $76 on May 21. The decline accelerated in the last week after the company reported disappointing second-quarter earnings.
