Beenz Exec Resigns

beenz.com inc., the developer of beenz web currency, has announced that Philip Letts, the company's president, chairman and chief executive officer, has resigned. The board of directors has elected Charles Cohen, the company's founder and chief technology officer, as the new chairman and chief executive officer, and Donald M. McGuire, the company's current chief operating officer, to be president. Cohen will concentrate on strategy and new product development, and McGuire will be responsible for the day-to-day operations of the business worldwide. The New York City-based firm says that it will initiate a search for a new CEO.