Less than a month after being replaced as president and board chair of Kintera, the financially-troubled firm that provides software and services to nonprofits, co-founder Harry Gruber has quit as CEO.
Richard LaBarbera, who was promoted to president in February — a year after being named chief operating officer — was named CEO and elected to the board of the San Diego-based firm.
Gruber will continue to serve on the board.
The San Diego Union-Tribune reports that Gruber quit under pressure from several investment firms.
Kintera, which made its initial public offering of stock in late 2003, employs 265 people and never has reported a profit, also announced it would release its financial results for the fourth quarter and fiscal 2006 on March 29.
Before joining Kintera, LaBarbera served as chief operations and services officer at Echopass, which provides customer-relationship-management software as a service, and call-center solutions that integrate with partners such as Salesforce.com and RightNow Technologies.
Kintera shares fell 8 cents, or nearly 4.5 percent, to close at $1.70 a share in NASDAQ trading Monday.