Report: Powermat CEO Thorsten Heins Stepping Down

February 28, 2016 | CEO of the Israeli-founded company Powermat, Thorsten Heins, is stepping down from his position, following a lawsuit between the company’s founder and former CEO Ran Poliakine and the German-born executive. The news, first reported by The Jerusalem Post, follows from an October court filing, which alleged that Heins was running the company without an approved budget. On Sunday morning, the sides entered into mediation in a Tel Aviv district court, reflecting an agreement that Heins would leave the position and a new CEO search committee will be set up. It was also agreed that the board would be restructured and that investors, which include Goldman Sachs, would finance the company with an addition $10 million in bridge loans. Heins, known for his failed attempt to turn around Blackberry as CEO from 2012-2013, was brought to Powermat in 2014 following shareholder pressure, including that from Goldman Sachs, Hudson Clean Energy Partners and Chris Bruch. At the time, shareholders thought that Poliakine was running the company for his own benefit. Now it seems that those same shareholders see Heins as overspending, lacking strategic vision, and failing to grow the company. Founded in 2007, Powermat developed wireless mobile phone charging mats that have been adopted by Fortune 500 clients including Starbucks, GM, Proctor, Samsung and Gamble, and AT&T. Last month the company also announced that Samsung would embed its wireless charging technology directly into its Galaxy s7 and future phones.