When we last profiled Citron in 2004 for "40 under 40," he'd already appeared on the list four times, thanks to the wealth he'd amassed from his online brokerage firm Datek. Back then, having settled a $22.5 million trading suit with the SEC, he was gambling on new online phone service Vonage to help rebuild his reputation.
When the company got off the ground and readied for a public offering in 2006, board members replaced Citron with former Tyco exec Michael Snyder. The move backfired. In Snyder's first year, Vonage saw its share price plummet and lost two patent infringement lawsuits against Verizon and Sprint. To turn the firm around, in April 2007 board members brought in... Citron.
He may yet succeed: In the second quarter, Vonage eked out a slim $1 million profit - its first quarter in the black since its founding.
NEXT: Ted Waitt
