Peter Adderton, founder and CEO of mobile virtual network operator Amp’d Mobile Inc., has left the company he founded and subsequently guided into bankruptcy.
An Amp’d representative confirmed that Adderton and the MVNO have parted ways, although Adderton is currently still on the company’s governing board. Adderton’s name and biography have been removed from the Amp’d Web site; the lead executive for the MVNO is now President Bill Stone, and no CEO is listed for the company. Senior management for the company now consists of Stone, COO Sue Swenson and CMO Doug Dobie.
Amp’d filed for Chapter 11 bankruptcy protection on June 1 after running into liquidity problems due to 80,000 non-paying customers and loan-payment demands by Verizon Wireless. Verizon threatened to turn off service to the MVNO’s customers if it did not make a $4.5 million payment.
Adderton, who built his wireless reputation by leading the successful launches of Boost Mobile L.L.C. in Australia, New Zealand and the United States, founded Amp’d initially with his own money; court filings list him as the firm’s largest individual shareholder.