Glu Mobile CEO Announces Resignation

Troubled mobile games developer, Glu Mobile has announced that its President and CEO, Greg Ballard is to "transition his role with the company" - aka, resign. A head-hunting firm has been recruited to seek a replacement CEO. The company anticipates that Mr. Ballard will remain in his role until his successor is in place.

"Glu has made significant progress in the last several quarters on its business and financial goals despite the challenging economic environment, and I am confident that the foundation set by Greg and the Glu team will serve us well as we endeavor to grow market share in the traditional carrier business and gain additional traction with new platforms such as the iPhone," said Dan Skaff, Co-Chairman of Glu Mobile.

A former high-flyer the company has drifted somewhat since the advent of touchscreen smartphones and handset vendor app stores. The firm has recently inked games licenses with Activision, which includes the Guitar Hero franchise.

In addition, based on preliminary financial data for the second quarter of 2009, Glu Mobile announced that it expects its final financial results for the second quarter to be consistent with the guidance that the company provided on May 6, 2009. Further, the company currently expects its financial results for the full fiscal year to be consistent with this previously announced guidance.

The company also announced that its board of directors has elected Dan Skaff and Bill Miller as co-chairmen of the board of directors.

Posted to the site on 9th July 2009