WiMax equipment-maker Alvarion reported a wider second quarterly loss on Wednesday and said its President and CEO Tzvika Friedman is requesting to resign from the position, but will stay on board until a replacement is found.

The Israeli-based company had a net loss of $4 million, or 6 cents a share, compared with a loss of $812,000, or 1 cent a share, in the same period last year, Reuters reports. Sales fell 16 percent to $58.7 million. Alvarion has recently secured large contracts in the U.S. and Italy, and is therefore forecasting a Q3 net loss of 2 to 9 cents, and may even earn 1 cent a share excluding one-time items.

In a statement, Friedman, who has been with Alvarion for 10 years, including four as CEO, said he would spend time with family and pursue personal and business interests, reports MarketWatch.