There are probably more than a few former Motricity workers in the Triangle who aren't sorry to learn that CEO Ryan Wuerch has left.
While CEO in 2008, Wuerch orchestrated the technology company's move to near Seattle from Durham. That cost hundreds of local workers their jobs and shifted the fast-growing firm's headquarters out of this region.
Motricity, which still has a smaller operation in Durham, announced this morning that it has "mutually agreed" with Wuerch to terminate his employment as of Aug. 20.
Jim Smith, who has been president and chief operating officer since Jan. 2009, has become interim CEO.
Just over a year ago, Wuerch helped Motricity make its Wall Street debut. But the company has hit tough times since its initial public offering.
The shares began trading at $10 each in June 2010, then traded above $30 last fall. Today, they fell 15 cents to $2.31.
Motricity develops software that allows wireless carriers such as AT&T and Verizon to sell digital content to their customers.
Assistant Business Editor Alan M. Wolf joined the N&O in 1999 covering the business of health care. He became an editor in 2001, and helps oversee the paper's daily business coverage and Sunday Work&Money section. He lives in Clayton with his wife and two children. Reach him at 919-829-4572 or
Comments
oh well
Mon, 08/22/2011 - 19:50 — PowderedToastManExpect the Durham office to close soon. Their over reliance on outsourcing is certainly not helping meet deadlines.