San Mateo, Calif.-based Glu Mobile (NSDQ: GLUU), which had been struggling to appoint a new CEO, says it has hired Niccolo de Masi as President and CEO. De Masi’s name rings a bell because he most recently served as CEO and president of San Francisco-based Hands-On Mobile, one of Glu’s competitors (and actually he is still listed as CEO on Hands-On’s website). Release.
Just about a month ago, Glu appointed its co-chairman William J. Miller to the position of interim president and CEO as it continued to look for a replacement for Greg Ballard, who was stepping down to pursue other opportunities. The board had been conducting a search for a permanent replacement for months, but had no luck. Miller was appointed because the mobile-game company was just entering their 2010 planning process, and it made sense to have a manager participate that would still be around in the new year. Miller said today in a release: “The Board of Directors of Glu is delighted that Niccolo will be joining us as Glu’s next president and CEO. We are convinced that he has exactly the right combination of energy, experience and skill to lead the company to a growing and profitable future.”
It’s unclear when de Masi’s last day was at Hands-On Mobile, or if there should be any concerns over him jumping ship for a competitor. Prior to Hands-On, he was the CEO of Monstermob Group from June 2006 to February 2007. “I am excited to join the Glu team, which I believe to be a world-class global enterprise,” he said. “I look forward to this new challenge, as we focus on utilizing the company’s scale to enhance our market share in both the traditional carrier business and new platforms, such as the iPhone and social networks. I will work tirelessly to build upon the foundation that the Glu team has built and welcome this opportunity to lead Glu during what I believe will be a period of growth.”
Glu said de Masi has been awarded the chance to purchase 1,250,000 shares of Glu’s common stock pursuant to Glu’s 2008 Equity Inducement Plan. The stock option was granted to de Masi today and has an exercise price equal to the closing price of Glu’s common stock of $1.21 a share.
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