• paidContent , Monday, November 1, 2010 1:19 PM

CEO Valerio Zingarelli is out at web and mobile video content platform Babelgum, paidContent reports. Taking his place is Chief Marketing Officer Stefania Valenti -- the company's third CEO since it launched in 2005. Funded by Italian telecom billionaire Silvio Scaglia, Babelgum's original CEO Erik Lumer made way for Zingarelli in 2007.

As paidContent notes, that change "prefaced the exits of the company's chief technology officer, chief architect and chief operating officer." Prior to becoming CMO in 2007, Valenti ran press relations at Scaglia's FastWeb, while her previous experience is all PR, according to paidContent. According to Zingarelli, he did exactly what was expected of him. "My mission when I joined in July 2007 was to transform an ambitious but fragile start-up into an established company following best industry practices," he said in a statement. "I think that these objectives have been achieved."

Read the whole story at paidContent »