Richard Stalzer Named CEO of Motricity
On November 15, 2012, Motricity (NASDAQ: MOTR) and Jim Smith, the Interim Chief Executive Officer, ended Mr. Smith's employment with Motricity. Mr. Smith's duties will be assumed by a team of current Motricity executive officers. Richard Stalzer, currently the President of Voltari, Motricity's Mobile Media division, has been named Chief Executive Officer. Nathan Fong, currently Motricity's Chief Financial Officer, will continue in that position and has also been named Chief Operating Officer. Richard Sadowsky, currently Motricity's General Counsel will continue in that position and has also been named Chief Administrative Officer. Each of Messrs. Stalzer, Fong and Sadowsky will report directly to Motricity's Board of Directors.
"After restructuring the business, launching new products and incubating a clear future strategic direction this is a natural transition to hand-off to the new leadership to execute. Rich Stalzer, Nathan and Richard now have the capital, focus, skills and capability to create tremendous value. Motricity has emerged as a new company and is well positioned to capitalize on the growth in the open mobile market," said Jim Smith
Mr. Stalzer said, "Nathan, Richard and I are very excited about the opportunity to take Motricity to the next level. Companies are all about the people and the