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Wireless Ronin (RNIN) CEO quits, firm gets downgraded

Author: WireSpring on 2008-09-24 11:25:09

We don't know what the cause-and-effect is between these two events, but Barrington Research downgraded Wireless Ronin's stock, and simultaneously (it would seem), long-time CEO Jeff Mack announced that he would be quitting the firm immediately:

The board has appointed Target Corporation veteran and current Wireless Ronin board member Stephen Birke, as interim president and CEO. This change is effective immediately. Under the board’s direction, Wireless Ronin is beginning a search for a permanent president and CEO. The board also appointed Greg Barnum, the company’s lead director, as chairman.

“On behalf of the board of directors, I want to thank Jeff for his leadership and service over the past few years and his efforts in establishing Wireless Ronin’s formidable position in the digital signage industry,” said Wireless Ronin board chairman, Greg Barnum. “We are also delighted to appoint Steve Birke as the company’s interim president and CEO. We are confident that Steve’s extensive leadership expertise and significant retail and merchandising background will serve Wireless Ronin well as the company moves forward.”

Our take:

We're suspect that chairman Barnum actually meant "tiny" instead of "formidable"when talking about RNIN's presence in the market. Granted, they do have awesome presences at all of the major trade shows, but our own CEO suspects that doesn't generate a huge amount of business for anybody other than the trade show companies themselves.

Still, we wish RNIN good luck in finding a new CEO, and note that WireSpring would be happy to help them by providing a well established and affordable technology platform that would allow them to reduce their operating expenses.  Oh, and we're sure we could find a way to take some of that (diminishing) mountain of cash off of their hands too.


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