Monday May 12, 12:00 PM
Mobile Tornado's chief technology officer Eyal Fishler resigns
LONDON (Thomson Financial) - Mobile Tornado Group Plc. said chief technology officer Eyal Fishler has stepped down with immediate effect.
Fishler was the co-inventor of the company's Internet Protocol Radio Service (IPRS) technology
platform, which the company has lately found not core to its business and so was transferred to Jukata Inc. for a 20 percent stake in that company.
Fishler, who owns the remaining 80 percent of Jukata, will run it and develop the media platform further, the mobile technology company said.
The company, however, said Fishler will continue his relationship with it through a consultancy arrangement and will retain 800,000 options out of 1.8 million options he was granted.
To fund Jukata through the early development stage, Fishler has sold his 9.12 million Mobile Tornado (LSE: MBT.L - news) shares and he is no longer interested in its shares, the company added.
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