Shares of Vocus Communications Limited (ASX: VOC) fell as much as 6.7% this morning. In many ways, shareholders can be thankful the plunge wasn’t even greater.

The telecommunications giant came under renewed pressure this morning as a wave of key personnel departures continued. This time, it was Executive Director James Spenceley and Non-Executive Director Tony Grist that called time on the business.  This follows the recent resignation of Chief Financial Officer Rick Correll less than a month ago.

As can be seen in the chart below, investors have not responded too kindly to the changes.

Source: Yahoo! Finance

Source: Yahoo! Finance

In addition to the executive and board-level departures, it’s likely investors are also concerned about management’s ability to manage the integration of its various recent acquisitions into the business.

Add to that concerns related to the slowing growth in the industry, sparked by the weak outlook provided by TPG Telecom Ltd (ASX: TPM) recently, and it’s not difficult to see why the shares have fallen so sharply since the middle of this year.

Vocus’ sharp decline could represent an opportunity for investors to take a closer look at the business and determine whether it is worth a position in their portfolio. That said, the recent turbulence among the company’s board members and executives is something to be cautious of.

The shares have recovered somewhat since this morning’s lows, and are trading 3.6% lower at $5.43 at the time of writing. However, they are still sitting more than 42% lower since May this year.

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Motley Fool contributor Ryan Newman has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.