HAYWARD, Calif.-Wireless enterprise company AvantGo Inc. announced its chief executive officer, Richard Owen, will step down at the end of the month and that the company will begin looking for a replacement.
David Cooper, the company’s chief financial officer, will now also become its chief operating officer, while James Richardson will become chairman of the company’s board. Richardson joined the company’s board last year.
Separately, AvantGo announced its stock will begin trading on the Nasdaq SmallCap Market at the end of the month.
“On behalf of the board, I would like to thank Richard for the significant role he has played in making AvantGo the leading provider of mobile enterprise software,” Richardson said.
AvantGo, along with most of the rest of the wireless enterprise market, has been suffering from sluggish sales. The company in July cut 40 percent of its work force.
Amid a positive market, AvantGo’s stock dropped about 5 percent in trading after the news to about 55 cents per share.