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Ominous Netgem reshuffle shifts multiscreen business to Vitis

French video technology vendor Netgem, a connoisseur of ambiguity, filed a set of alarming financial results this week in tandem with news of a new CEO appointment. Normally executive reshuffles are of little to no interest here at Faultline Online Reporter, but the fact co-founder Joseph Haddad has vacated his position is difficult to digest as anything other than a death sentence for Netgem as a video business. In doing so, Haddad has – in a sense – sold out, as shareholders this week approved the transfer of the multiscreen platform business to Vitis, the specific subsidiary which houses the VideoFutur fiber services business. On last count, Netgem held a majority 53.2% share in Vitis. The reason – VideoFutur is…

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