Avanex fires CEO; CFO resigns

(Recasts; adds details, share movement)

July 7 (Reuters) - Avanex Corp AVNX.O, a supplier of optical networking products, said it terminated its Chief Executive Jo Major, citing the inability of Major and the board to work together effectively, sending its shares down more than 15 percent.

The Fremont, California-based company also said its Chief Financial Officer Marla Sanchez resigned, but did not give any reasons.

Major, who also quit as president, resigned from the company's board, it said in a statement.

Avanex appointed Giovanni Barbarossa, chief technology officer, as interim chief executive.

The company also appointed its board member Paul Smith as non-executive chairman. Smith is currently CEO of Packetmotion Inc, a network security company.

The departure of Major and Sanchez is not related to the company's operational performance or financial condition, Avanex said.

Avanex reconfirmed its fourth-quarter revenue outlook of $50 million to $53 million, and said it expects positive cash-flow for the quarter.

Analysts, on average, were expecting the company to report earnings of 1 cent a share, on revenue of $51.9 million, according to Reuters Estimates.

Shares of Avanex were trading down 11 cents at 88 cents in midday trade on Nasdaq, after touching a low of 84 cents earlier. (Reporting by Anurag Kotoky in Bangalore; Editing by Gopakumar Warrier)