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Industry Moves

Updated: Industry Moves: Wayfinder CEO Steps Down After Vodafone Purchase

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imageIn a surprise move, Vodafone has replaced Wayfinder System CEO Magnus Nilsson, with Tommy Ahlers, the founder and CEO of ZYB, the social networking and mobile back-up provider. Vodafone (NYSE: VOD) had purchased ZYB in May 2008 and was folded into its Internet Services unit. According to GPS Business News, the move, which came after an extraordinary general meeting of shareholders was unexpected as Vodafone had struck a retention agreement with Nilsson worth €1.1 million euros ($1.4 million), according to the acquisition papers it filed. Vodafone’s December purchase of Swedish navigational software firm Wayfinder was widely seen as a way for the operator to stay in the increasingly competitive game of offering consumers mobile internet services in which mapping and navigation are playing an increasingly important role.

SEE ALSO: Vodafone To Buy Swedish Navigational Software Firm Wayfinder For $30 Million

Update: Nilsson has contacted us to say that despite the wording of the Wayfinder release he has stepped down on “amicable terms,”  after deciding to exercise his right to resign based on a change of control clause in his employment agreement. He says he will continue to assist the Ahlers during the next couple of months to ensure a smooth transition.

Picture: Tommy Ahlers, CEO of Wayfinder

Feb 26, 2009 11:12 AM ET

Posted In: Industry Moves, Technologies / Formats, GPS Navigation & Maps, Companies, Vodafone, magnus nilsson, tommy ahlers

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