Former CEO Frankel resigns from Synacor’s board
Former CEO Ron Frankel resigned from Synacor’s board of directors effective Aug. 25.
Frankel had served on the board since 2001, which was also the same year he was named CEO.
Frankel said in March that would be leaving his position as CEO, but would remain on the board and as an advisor. Earlier this month, Synacor appointed former Comcast Cable manager Himesh Bhise as chief executive officer and as a member of its board of directors.
Synacor said its press release that Frankel’s departure signaled the next phase of its transition under Bhise’s leadership.
Synacor, which works with cable operators on their TV Everywhere initiatives and web portals, has come under fire from investors JEC Capital and Ratio Capital, which together own 10 percent of the company’s common stock. Earlier this month, the two investors jointly announced they would pay to hold a shareholders meeting themselves in an attempt to remove Synacor chairman Jordan Levy and other board members.