JDS Uniphase (s JDSU) President & CEO Kevin Kennedy has resigned and will be taking over as the CEO of another unnamed company, though he is going to remain on with JDS’s Board of Directors as Vice Chairman. A replacement CEO hasn’t been named. A telecom industry veteran, Kennedy has been helping bring JDS back from the brink. JDS stock has lost more than half its value so far this year and is trading at about $6 a share. The telecom equipment market is facing tough times as carriers tighten their belts to deal with the current economic slowdown. That is bound to have a negative impact on companies downstream — such as JDS Uniphase.