In his new role, Schwartz will oversee all day-to-day operations for the company, including the Thumbplay Music launch. In a release, the company said it has been able to achieve sustained profitability with sales of full track music and other advanced content driving the growth. Traasdahl: “With a focus on long-range growth opportunities, I will continue to help Thumbplay achieve its rightful place as the leading mobile entertainment company.”

Scott Marshall will continue to serve as COO and CFO and Jeff Carr is SVP of Marketing, who will oversee marketing. There’s no immediate plans to hire another CMO. Earlier this year, the company lost two c-level executives to Fox Mobile, and has added about about $8 million to its coffers. In total, the company has now raised about $61 million in venture capital.

Rafat adds: Some backstory to this: The market changed on Thumbplay (and others) completely in the last couple of years, as Tricia points out above, and the hoped-for exit for Thumbplay hasn’t materialized. Are cashed out a bit a few months ago, according to multiple sources, and has been focused elsewhere as he tries to come up with his next new idea; this move to Chairman could be his slightly drawn-out graceful exit of sorts, maybe by next year. Meanwhile, Evan has been with the company from the start, and investors believe he is the right person to take the company forward; who knows it could mean they’re priming it for an exit sometime next year.