Chutes & Ladders: BCGI's CFO becomes CEO

Boston Communications Group Inc. (BCGI) appointed CFO Joseph Mullaney as acting CEO, replacing interim CEO Paul Tobin. Tobin will continue to serve as chairman, however, BCGI provided no explanation for the executive shuffling. BCGI also recently reported to the SEC that it would not report its Q1 results on time because it's preparing restated financials that include charges related to option grants. BCGI said it expects to see $20 million in revenue for the quarter, down from $25 million a year ago and because of "the loss of revenue from customers such as Verizon Wireless, Cingular Wireless and Alltel Corporation, which had completed their migration off the company's platform to other third-party providers by approximately mid-June 2006."

For more on BCGI:
- see this WSJ article (sub. req.)