ADB chief executive Francois Pogodalla is to leave the company with immediate effect.
In a statement issued by the Geneva-based set-top box developer today (Monday), the company said Pogodalla’s departure was by mutual agreement. Andrew Rybicki, ADB Group CEO, will take on the responsibilities on an interim basis.
Pogodalla joined ADB in November 2005 as EVP Corporate Development. He became CEO of ADB SA in January 2008. Prior to joining ADB he was Director M&A and Strategic Alliances, STMicroelectronics.
2010 profits of $12.906 million were down from $15.250 in 2009, in part due to the purchase of Pirelli Broadband Solutions, which was made from in-house resources. The cable division remains the group’s largest business segment, contributing 35% of 2010?s $356.6 million revenue.
