Innovaro CEO out

Douglas Schaedler has resigned as CEO of Innovaro Inc., a publicly traded company based in Tampa.

“Since becoming Chief Executive Officer, my goal has been to strengthen the company's balance sheet and re-position it for growth in the software industry, and I believe that has been accomplished,” Schaedler said in a release.

At the time of Schaedler's departure, Innovaro carried $6.27 million in debt, compared to a market capitalization of $18.9 million. Cash in hand is down roughly 80% since the end of 2006, and total equity has decreased roughly 50% in that time.