NeoMedia Technologies, Inc (NEOM)

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NapleNews Article: NeoMedia announces resignation of its CEO

By Laura Layden (Contact)

Wednesday, December 13, 2006

http://www.naplesnews.com/news/2006/dec/13/neomedia_announces_resignation_its_ceo/?business

Charles Jensen has stepped down as the president and chief executive of Fort Myers-based NeoMedia Technologies Inc.

The company, a provider of mobile technology and marketing solutions, announced his resignation Tuesday. Jensen, 63, has been with NeoMedia since its start in 1995.

Reached at home Tuesday, Jensen said he had no comment on why he left the company.

The company also announced a cost-cutting plan, which includes salary reductions for senior executives.

Charles Fritz, NeoMedia’s founder and chairman, will temporarily replace Jensen as CEO.

“No one worked harder or longer on behalf of NeoMedia than Chuck Jensen,” said Fritz, 50, in a statement. “Under his leadership, NeoMedia made its entrance into the mobile industry and expanded international marketing and sales efforts.”

In a news release, Fritz said the company is continuing to implement a revised strategy, which has included selling off its Mobot and Sponge subsidiaries and its micro paint business unit.

The company is focusing its resources on the marketing and launch of its patented qode technology, which connects consumers and cell phones directly to the Web.

Fritz could not be reached for further comment on Tuesday.

Jensen started as NeoMedia’s chief financial officer. In June 2002, he was named president, chief operating officer and interim CEO, succeeding Fritz. In September 2004, he became CEO.

NeoMedia trades under the symbol NEOM on the Over-the-Counter Bulletin Board. It trades for pennies a share.

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