Executive Changes and Cash Infusion for Visible Technologies
October 19, 2009 – 1:06 pmVisible Technologies made the front page of Wired Online today with annoucement of In-Q-Tel’s, the investment arm of the CIA, investment in the Seattle Social Media Analysis and Engagement company.
Visible also launched a new corporate website last week, which they quietly made public the hiring of Kelly Pennock, the new Chief Technology Officer, who took over for Bill Baker. Bill came from Microsoft, as a BI Expert and Distinguished Engineer, and was with the company a little over a year (hired in September 2008). This is the third CTO in three years for Visible Technologies. They also finally removed Dean Graziano from the executive management webpage.
Visible has had significant additions and changes in their executive team this year with the hiring of Peter Price as CFO and Dan Vetras as CEO, the above mentioned CTO transitions, as well as Dean Graziano, one of the co-founders, leaving the Company in April. Along with these changes were the marginalization of Jim Webber, co-founder and once Chief Administrative Officer (Now EVP of TruReputation), David Burcham, once Chief Operating Officer (Now EVP of Products and Services), and Adam Selig, once Chief Executive Officer (Now Divisional President of Strategic Alliances). There has also been several other internal Director / VP moves and transitions, specifically of note with the new international focus with In-Q-Tel was Laura Sanders, the VP of International Development, leaving in April.
The executive turmoil and strong possibility of devaluation were the primary reasons why I chose not to exercise the stock options I had vested with the Company when I left. Visible is still positioned well in the Social Media space as seen by their strong showing in the 2009 Forrester Wave report earlier in the year. I wish them the best in weathering the changes that have occured.
Dan Hall
