Martin Higginson, the founder and chief executive of the mobile content firm, Monstermob has been sacked following a boardroom coup over the weekend. Ex Orange boss, Hans Snook lead the coup, saying that the sacking was "one the most difficult decisions I've ever made". He said that Higginson was excessively focused on the UK market to the detriment of Monstermob's overseas expansion where most of its profits now come from.
Niccolo de Masi has taken over as Chief Executive Officer. Niccolo De Masi began his career as a physicist working for Siemens Solar developing a novell solar cell technology into a full production unit. Following this he moved into the Strategic Planning and Development division of Technicolor, working for the COO on a range of acquisitions and initiatives worldwide. Prior to joining Monstermob, Niccolo worked for JP Morgan in both the debt capital markets and mergers and acquisitions teams within the media, technology and telecoms (TMT) division.
Monstermob's share price fell 42p to an 18-month low of 153p when the sacking was announced - near the price at which the company listed in 2003, and down from last autumn's high of more than 450p.
Mr Higginson said: "I am disappointed and saddened in the way I have been removed by the board of Monstermob. I do not feel they have acted in the best interests of all shareholders and I am taking legal advice."
Posted to the site on 15th June 2006
Posted to: www.cellular-news.com/story/17815.php