Synchronica chief exec departs after payment delays

23rd Sep 2011 13:11

Mobile phone messaging technology group Synchronica's chief executive and chief operating officer have abruptly left the company after it experienced delays in customer payments. Synchronica said it is owed payment by a number of device manufacturers. "Payment terms for these orders were linked to the manufacture of devices to which Synchronica software was applied," the company said. "However due to delays in delivery of third party software to these device manufacturers, many of these devices are yet to be manufactured."Synchronica said that it will now have to wait until 2012 for most of the $2m it had expected to collect from these customers in the fourth quarter of 2011.Carsten Brinkschulte will be replaced as chief executive by Angus Dent.---RG