Top ATG Executive, Co-Founder Step Down

At the same time, the CRM application vendor, based here, announced that Jeet Singh, ATG co-founder, chief strategy officer and director, is resigning to "focus on his personal interests."

Shorthose will remain chairman of the company and work with Burke on a "number of customer and marketing-related initiatives," according to the company.

Shorthose said in a statement that he is stepping down with the company well-positioned and credited Singh with helping build the online CRM application vendor.

Singh said in a statement that the time is right for him to "step aside."

Burke, who also will take Singh's seat on ATG's board, most recently was CEO of Quidnunc and president of ePresence Solutions.

Shares of ATG closed trading Thursday at $1.44 per share, down from its previous close of $1.69 per share.