Arvind Chhatbar has stepped down as chairman of Enablence Technologies Inc, a publicly traded company he founded in 2003 after a long career at the National Research Council. Chhatbar was CEO of Enablence until April/10 when he was succeeded by Tim Thorsteinson and became chairman to focus on acquisitions. The Ottawa-based firm purchased Teledata Networks Ltd, Tel Aviv, for $50 million in June. Chhatbar's departure was prompted by weak fourth quarter results which saw the firm's annual revenues stagnant and losses of $32.6 million. Prior to founding Enablence, he headed up Vitesse Re-Skilling (now Vitesse), an NRC spin-off in conjunction with the Univ of Ottawa and Carleton Univ. While at NRC, he was director of its Ottawa Regional Innovation Centre and was responsible for engineering several spin-offs including SiGe Semiconductor and Iridian Spectral Technologies. Enablence designs, manufactures and sells optical components, subsystems and systems for the telecommunications sector….