Unwired Planet, Inc. (Nasdaq: UPIP), today announced a chief executive officer transition plan. Current CEO, Michael Mulica, has agreed to remain as CEO through the appointment of his successor and has entered into a separation agreement with Unwired Planet in which he agrees to stay as CEO through May 31, 2013. The separation agreement sets forth the terms of his continued service during the transition and his eventual resignation as CEO. Mr. Mulica currently intends to remain on the board of directors for the foreseeable future.
“Mike has been instrumental in helping to architect and execute a complete transformation of Unwired Planet over the past one and a half years. During this time, he successfully led the divestiture of our legacy product businesses, the creation of our IP licensing strategy, facilitated a 100% replacement of staff, relocated our headquarters to Reno, Nevada, launched two legal actions against Apple and Google, and most recently consummated our recent transaction with Ericsson which greatly expands the market opportunity for Unwired Planet. I am very proud of what Mike has accomplished during his tenure and look forward to his continued active involvement in Unwired Planet,” said Peter Feld, Chairman of the Board of Directors.
Mr. Mulica stated, “Since joining Unwired Planet as CEO in October 2011, we have worked tirelessly to re-invent the company and position it for future success taking advantage of the billions of dollars spent on innovation and invention over the years. As a small, nimble, and highly focused company, Unwired Planet is now ready to emerge as the leader in the mobile IP licensing space. We have arrived at our strategic destination. I look forward to seeing the company through this transition and continuing to work with our talented team through my role as a member of the board of directors.”