Thursday, October 8, 2009
Mandalay Media announced on Tuesday that Ian Aaron, the CEO of Twistbox and Director of Mandalay Media, Inc. (MNDL), was stepping down effective the next day. The release did not give a real reason ("to pursue other interests"... hmm, like macramé or scrapbooking or something?), nor did it indicate who would be replacing him. However, Aaron's statement that "with 80% of (the company's) mobile business International, my departure coincides with the transitioning of our day-to-day operations overseas," would indicate that the position may be moving to Europe.... perhaps to the UK offices of AMV, which the company purchased a year ago. This is the second sudden C-level executive departure in the last 6 months.... back in June CFO Jay Wolfe was abruptly replaced by Russell Burke. As I've written about recently the company faces two critical issues going forward. First, they need more cash, and second, I think they need to decide whether they're a mobile adult entertainment company or a games company. Considering that the former is 87% of their revenue, and considering the current glut of competition in the mobile games space, I'd say the choice is pretty clear.