Two Top Execs At Active Network Resign In Moves That Appear To Be Unexpected
Active Network “shook up its top ranks late Wednesday, announcing the resignation" of President & CEO MATT LANDA and Exec Chair DAVID ALBERGA, "both long-time executives with the firm,” according to Mike Freeman of the SAN DIEGO UNION-TRIBUNE. Active said that the resignations are “not related to disputes with the board or issues regarding the company’s accounting practices.” Still, Freeman writes the resignations “appear unexpected,” as Landa was named CEO “just seven months ago.” Alberga worked as “chief executive of the company since it was founded in 1999” and stepped into the Exec Chair role last October. The company’s share price has “dipped 50 percent since last fall -- in part because of concerns about the pace of a technology upgrade, as well as sluggish revenue from its hunting and fishing license business.” Active’s BOD named JON BELMONTE interim CEO (SAN DIEGO UNION-TRIBUNE, 5/3). At presstime, Active Network was trading at $5.12, up 1% from Thursday's close of $5.07 (THE DAILY).