KIT Digital chairman resigns, shares fall

Reuters News
Posted: Apr 16, 2012 5:38 PM
KIT Digital chairman resigns, shares fall

(Reuters) - KIT Digital's <KITD.O> Chairman Kaleil Isaza Tuzman resigned, less than a month after four directors of the video management software company left.

Tuzman had taken up the job about a month ago, after he had stepped down as the chief executive of the company.

KIT Digital had announced a management rejig on March 23 that saw the departure of four directors and the appointment of an interim CEO.

KIT Digital shares fell as much as 7 percent after the bell. They had closed at $7.14 on Monday on the Nasdaq.

(Reporting by Chandni Doulatramani in Bangalore; Editing by Sreejiraj Eluvangal)