John Torkelson has resigned from the company's board of directors with the indication being that the reason for his move was recent litigation brought against him by the Small Business Administration (SBA).
"Over the past 8 years, since his group's initial investment in PVI, John has effectively served PVI in a number of important capacities," said Brown Williams, PVI's founder and chairman of the board.
"We understand his desire to concentrate on these current issues relating to another company, and wish a him a quick and satisfactory resolution."
PVI's board of directors has asked James Green, COO and acting CFO, to conduct a comprehensive search for a new head of the audit committee, which was previously chaired by Torkelsen.
Virtual advertising firm Princeton Video Image (PVI) has announced the resignation of one of it's directors.
