Iona appoints new COO

Iona Technologies (Nasdaq: IONA) has named Steve Fisch as its new Chief Operating Officer.

Mr Fisch was formerly the CEO of Virtual Access Networks, prior to which he was the president of Attunity and ISG.

He would be responsible for the company's engineering, sales, product management, customer services and other operations related activity.

Mr Fisch has said that his priority is to return Iona to profitability by improving execution through leaner measures.

Iona has suffered major set back recently and has seen its share price more than halve in value following a 50 percent drop in revenue.