By Ben Glickman
Airspan Networks Holdings Executive Chairman Eric Stonestrom resigned from the company, effective Dec. 27.
The Boca Raton, Fla.-based 5G network software and hardware provider said in a regulatory filing that Stonestrom had resigned by email Dec. 20. Director Bandel Carano also resigned Dec. 22.
Stonestrom said in his resignation email that he believes greater shareholder value could have been achieved if the company had agreed to “a pre arranged percentage split of proceeds among the significant classes and then conduct a formal auction with a hard deadline and finite timeline.”
Airspan said in the filing that Carano’s resignation related to “extreme asymmetry of critical information disclosure to directors especially as it pertains to Fortress controlled strategic liquidation activities.”
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