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Velti (VELT +18.5%) finished the day with a giant gain after announcing a CFO change. Jeff Ross,...
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Monday, December 17, 2012, 4:29 PM ETVelti (VELT +18.5%) finished the day with a giant gain after announcing a CFO change. Jeff Ross, previously CFO of SAP's Sybase unit, will be replacing Wilson Cheung, who will "transition into a new role" in Velti's Asian ops. Velti's high collection times, and the revenue fallout the company will see from its efforts to lower those times, had led to concerns about its financial management. 38.3% of the float was shorted as of Nov. 30.
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