On2.com COO Resigns

On2.com (http://www.on2.com) announced that COO Randy Cohen has resigned effective immediately.

CEO Dough McIntyre said that he is eliminating the job of Chief Operating Officer and all functions of the old position will report directly to him.

"While we are saddened to see Randy leave, it is very important that, as we leave the period of being a development stage company and enter the period of revenue generation, directives for sales and marketing come directly from the Chief Executive office," said McIntyre.

McIntyre said that "On2 is in the strongest financial position in the history of the Company", however, combating any speculation that the company is in trouble. A few weeks ago, On2.com did lay off a few employees and restructure itself, but McIntyre said it wasn't because of financial difficulties.