NEW YORK (
) -- Shares of
fell in late trades on Monday after the Czech Republic-based video technology company said Kaleil Isaza Tuzman, its non-executive chairman, has resigned.
The stock was last quoted at $6.95, down 2.8%, on volume of more than 55,000, according to
. Based on Monday's regular-session close at $7.14, the shares are up 45% so far in 2012.
KIT Digital didn't name a replacement for Tuzman in its press release but said he has indicated a willingness to help the company in the future.
"We believe in and support our management team which continues to focus on operations, cash flow growth and overall execution in what we consider to be a post-consolidation phase of KIT digital's lifecycle," said Wayne Walker, the lead independent director for the company's board, in a statement. "We are excited about and focused on the road ahead."
Check out TheStreet's quote page for KIT Digital for year-to-date share performance, analyst ratings, earnings estimates and much more.
Research In Motion
Research In Motion
ticked lower during the extended session following a report that the BlackBerry maker is
to help it weigh its strategic options.
The news broke late in regular trading, prompting a spike in the shares just ahead of the closing bell. The stock finished up 4.1% at $13.42 on volume of 23.5 million. It was last quoted in after-hours action at $13.40, down 2 cents, on volume of 1.7 million.
reported that Research In Motion is considering hiring one Canadian bank and one global bank. The company had indicated a willingness to look at its strategic options during its recent earnings conference call.
Written by Michael Baron in New York.
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