BELLEVUE, Wash. (AP) — Motricity Inc., a provider of mobile data services, said Monday that it terminated its chief executive and named a temporary replacement.
The company said that it and Ryan Wuerch mutually agreed to end his employment as CEO and a member of the company’s board effective this past Saturday. The company did not give a reason for the termination. The company is paying $450,000 in severance.
Motricity named James R. Smith Jr., 44, its president and chief operating officer since January 2009, as its interim chief executive and hired Korn/Ferry International to conduct a search for a permanent chief executive.
Smith and other external candidates are being considered for the position, Motricity said.
Motricity is based in Bellevue, Wash.
In morning trading, Motricity’s stock fell 5 cents, or 2 percent, to $2.41.