Phantom Entertainment has announced that former founder and CEO of the original Infinium Labs Timothy Roberts from his post as board of directors chairman at the now-lapboard manufacturing company to 'pursue new activities.'
While no specifics were given, Roberts explained in a release that he had "an exciting new opportunity that requires my full attention so it's time to move on."
"The timing is right since I have complete confidence in the future of the Company with the manufacturing, marketing, sales and distribution of the Phantom Wireless Lapboard and Wireless Laser Mouse in U.S., Europe and Asian markets," he added.
In August of 2005, former Xbox head Kevin Bachus succeeded Roberts and
was named chief executive officer after serving as its president and COO, with Roberts continuing to serve on the board of directors.
Bachus resigned some 3 months later.
In May of 2006, The U.S. Securities and Exchange Commission
charged Roberts for running a fraudulent “junk fax” scheme to artificially inflate Infinium's stock. That same month, the board of directors
changed its name to Phantom Entertainment, believing "that the name change would be in the best interests of the Company because the new name better reflects the long-term growth strategy of the Company."
In August of that year,
changed its mission to providing an on-demand software service rather than hardware manufacturer, apart from its 'lapboard' accessory, though little has been said of the software service since late last year.
Said Phantom CEO and president Greg Koler, "We are grateful for Tim's vision and his service in helping to guide the Company since its inception. We will miss Tim's counsel and insightful views on the direction of technology and we wish him well with his new endeavors. The company will be actively seeking new board members to assist us on the next phase of operations."
