• Leonid Kazovsky has joined Clearstone Venture Partners as a venture partner. He is a professor of electrical engineering at Stanford University, and head of the optical communications research laboratory.
• Warren “Pete” Musser has stepped down from his chief executive post at Safeguard Scientifics Inc., the company announced last week. Musser had been at Safeguard’s helm since he helped found the company more than 40 years ago, and has decided to pursue “broader entrepreneurial interests,” according to an official company statement. As such, Musser will remain closely involved with Safeguard’s 40 partner companies, as well as its 12 venture capital funds, which have more than $2.7 billion under management.
Musser’s resignation comes just months after he sold nearly 80% of his Safeguard shares, citing personal financial obligations and blaming poor market conditions, the latter of which have played significant a role in the company’s overall declining health in the past year. It has not been disclosed whether or not Musser will maintain his remaining ownership in the company.
Safeguard has retained national executive search firm Spencer Stuart Inc. to help its board of directors identify potential CEO candidates. In the meantime, the company has appointed an office of the chief executive to manage its day-to-day operations and Safeguard co-founder Vincent Bell has been named interim CEO.
• Dino Vendetti has joined Bay Partners as a general partner. He had previously been with Vulcan Ventures.
• Carl Wolf has joined Bulldog Group Inc. as chairman of its board of directors. Wolf was previously vice president of corporate development at Sun Microsystems, where he was responsible for the company’s M&A, venture and strategic investing activities.