CEO Peter Shinkle announced today that MarketVolt has successfully completed its transition phase following its spin-out as an independent company. Established as a division of Foundry Software Development Company, MarketVolt spun out in March 2013 after receiving capital investment from a team led by Shinkle.
Shinkle has served since then as MarketVolt’s CEO, overseeing the transition and the establishment of the company’s independent business functions — including finance, human resources, customer relations, office relocation and other operations. With that transition complete, Shinkle intends to step back from daily operations effective July 1. He will continue to serve MarketVolt as an investment partner and advisor.
Tom Ruwitch, who founded MarketVolt and served as President during the transition, will become CEO, effective July 1.
“My goal as CEO was to establish the foundation on which MarketVolt could thrive as an independent company,” Shinkle said. “We have achieved that goal. MarketVolt is financially and operationally strong. I am completely confident Tom Ruwitch, our Chief Technology Officer Bill Langton and the entire MarketVolt team are going to make some great things happen for our customers. This confidence allows me to focus day-to-day on other activities I wish to pursue.”
In the three years since the spin out, MarketVolt has made solid improvements in its software and expanded its sales and marketing functions. In 2014, MarketVolt was named one of the fastest-growing startups in the St. Louis region by ITEN, the 501(c)3 organization that supports startups in the region. MarketVolt is working with ITEN to hone its business plan and to seek further capital investment in the near future.
For more information about MarketVolt, please contact:
Tom Ruwitch, (314) 529-1431 or tom@MarketVolt.com