When the founder became CEO the share price was about $1.50....

When the founder became CEO the share price was about $1.50. When he finished as CEO the share price was about $0.30c and by the time the results came out the price hit $0.25c. I think he did a good job at the beginning but he did not have the know how to take the company into the next growth face.
In regarding to selling shares I can only speculate - maybe he needs the money or maybe he does not agreed with the new direction the company is taking. In either case I will not put a great emphasis in him selling since 3 other directors where buying shares.

I feel that the new CEO is clearing out all the previous mistakes (the business that where sold where not making any money just consuming resources). SEE BELOW FROM JMB BLOG:

CEO:
As I said in my last post we have been awaiting the release of our year-end results to address some of the questions and feedback this column has prompted. I am delighted to announce that the results are now finalised and were released publicly last week.

First, let me reaffirm Jumbuck Entertainments strategic direction. We are passionate about the mobile space in particular the increasing power of devices and the convergence of mobile telephony and social media. As a business we have many of the critical assets needed to effectively manage and monetise our unique communities globally, and are committed to acquiring those we dont.

In our annual reporting we openly discuss the transition from on-deck to off-deck, the impact it has had on us, and the hindrances to our effective reaction in the past. In our Investor Presentation we go further, setting out the specific steps we are taking to directly tackle these issues including substantive restructuring of the organisation, changes to revenue models, channels and products. Add to this the emerging fruits of our Launchpad program, internal R&D and skills acquisition initiatives and I can assure you there is real momentum building across the organisation.

Our revitalised business and new strategic direction was reinforced in London a few weeks back when our global sales heads spent three days together. Their focus was how to translate our revised business model to market. The team (from left to right in photo above) Andy, Brian, yours truly, Leif and Boris left the meeting feeling motivated and united. With more than 80% of our revenue coming from Europe and North America, we have access to huge opportunities on the international stage. This is a core competitive advantage for Jumbuck and we see this as the best use of our resources.

This was the backdrop to our recent asset rationalisation. We reviewed the resource and skill commitment needed to realise the full potential of both CarBuddy and OZtion and concluded the valued customers and broader stakeholders of both would be better off if they were in aligned with more focussed Australian brands. We see Car Advice and carsales.com respectively as excellent fits on this front. Importantly, the divestment of these non-core assets strongly positions Jumbuck to focus on the main game ahead and build long-term shareholder value.

ME:
The NTA per share is $0.18c and they now have a new clear growth direction which makes me a lot more comfortable holding on the shares. The dividend also helps because if management does not have any confidence in the growth the dividend will quickly disappear.