SpinVox boardroom shuffle

Alcatel-Lucent’s former CEO has quit SpinVox’s board, two months after being brought on as a director. Florida-based Patricia Russo joined as one of six directors on June 2 but quit last Monday, August 10, according to entry and exit filings published within three days of each other. Russo was named to the board of General Motors three weeks ago.

New York-based John Small, an asset manager from its investor GLG (SEO: 066570) Partners, is listed as a chartered financial analyst.

Andrew Cherry left as CFO in June 2008, since when several of Cherry’s nine staff have also left. A financial controller and head of financial planning and analysis have also been recruited and departed since January, we understand. Update: SpinVox tells us Roger Frye has been serving as acting CFO, four days a week, since Cherry’s departure.

SpinVox had raised an estimated $200 million before it needed to secure another £15 million-plus emergency funds last month. Amid accusations of unpaid bills, it said funds were being pressured by the credit crunch and by infrastructure roll-out, including call centres to transcribe messages, in new Latin America territories.

A separate filing has also revealed the latest documented shareholder split, with CEO Christina Domecq taking the largest share (16.93 percent), ahead of private investor Martin Hughes (two lots totaling 17.9 percent). But this was the picture as of July 8 – not clear how the recent acceptance of equity in exchange for salary by many staff skews this.