UTStarcom COO resigns

UTStarcom Thursday said its COO has resigned and will leave the company in early May.

The announcement comes amid an independent investigation into the telecommunications equipment maker’s accounting of a deal in India, and certain other transactions.

Mike Sophie, UTStarcom’s COO and executive vice president, resigned to seek other opportunities, the company said in a statement. He has been with the company for seven years.

UTStarcom CEO Hong Lun will assume the responsibilities of the COO until a permanent successor is named, the company said.

In February, UTStarcom asked independent investigators to examine the accounting of revenue between 2003 and 2005 from a deal in India valued at $22 million. The transaction carried a gross margin of less than $1 million, the company has said. Since then, the investigation has been expanded to include other deals.

The company last month received a delisting notice from the Nasdaq stock exchange.