Bay Network’s Finance Chief to Resign

Bay Networks Inc. said its chief financial officer, William Ruehle, will resign, the second management change since the computer networking company named an Intel Corp. executive as its chairman and president. The Santa Clara-based company said Ruehle, 54, will step down as CFO and executive vice president as soon as a successor is found. Ruehle said he is leaving in hopes of joining a smaller company. Bay named Intel veteran David House its chairman, president and chief executive on Oct. 30. House, 53, replaced Andrew Ludwick, who resigned as the company struggled to keep pace with rivals. Bay Networks shares fell $1.125 to close at $26.25 on Nasdaq.