Fios trims top staffers

Poor economy forces shift in sales structure after CEO leaves

Fios Inc. has dismissed three vice presidents as it retools operations.

Gone are Jeanette Siepian and Prashant Dubey, who led the sales and consulting operations, respectively. Consulting division Vice President Sam Panarella is also out.

The moves were made shortly after CEO Gerald Massey left, sparking blogosphere speculation over Fios’ overall health.

Yet while the other executives’ departures result from Fios’ newly streamlined sales division, Massey’s departure was a “long-planned transition,” said CFO and interim CEO John Hesse.

Portland-based Fios collects, processes and produces electronic data used during trials’ discovery phases. It works primarily with business defendants in cases requiring large electronic data volumes. “We eliminated some senior managers who were redundant when we put together those two distribution channels,” said Hesse. “It will make us more efficient to have our sales people and (the former consulting group workers) work together.”

Dubey and Panarella declined comment. Siepian couldn’t be reached.

Fios consolidated its consulting division, which advised clients using the company’s services, with its sales department. The new “sales and professional services” division, led by longtime Fios exec Brad Gragert, will perform both consulting and sales functions. Fios also created a new marketing department.

Fios is considered a rising star in Portland’s tech community. It earned notice in the city’s recent city economic development proposal, which dubbed it as one of 13 key Portland software companies. It’s part of the $4 billion electronic discovery field that’s considered a growing sector. As much as 97 percent of all business communications are now performed electronically.

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Source: www.portlandbizjournal.com
By: Andy Giegerich