Webpavement competitor - Adspace Coolsign - replaced outgoing CEO Karen Katz with Robert Cell according to their press release (pdf). Robert Cell is the former COO of Blue Martini software. See Blue Martini's financial information for the past 3 years here, which indicates they have a good amount of financial resources to achieve profitablity.
This news comes as no big surprise to digital signage industry insiders. CEO's of venture capital funded companies are often replaced when they don't perform according to benchmarks set when signing contracts with investors.
Coolsign is widely known as the digital signage media company that purchased then installed a number of plasma displays for movie theaters, malls and Nevada convenience stores after receiving $14 million in funding.
The life-cycle on their plasma display networks is nearing an end and new strategies must be employed to boost their sales numbers. We suspect Coolsign is seeking merger or acquisition.
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