The co-founder of Newer Technology, James Wiebe, has resigned after 16 years with the company – to launch his own engineering consulting firm, WiebeTech LLC.

Wiebe had been serving Newer as an engineering consultant for the past six months, said John Nelson, Newer's interim president and chief operating officer since January.

"He was ready to start working on something new," Nelson said.

Earlier this year, Newer narrowly averted bankruptcy by announcing a financing agreement with its Singapore-based manufacturing partner, Tri-M Technologies.

In a open letter to industry insiders, Wiebe said Newer was now stable enough for him to leave, reflecting recent statements made by Newer's current CEO, Gerald Minjoot, at Macworld Expo, New York.

In addition to much-needed cash, the investment brought in CEO Gerald Minjoot, who "brings operational skills to Newer that I had been looking for," Wiebe said.

Wiebe added that he still has a holding in Newer. "I haven't sold it, and I don't plan to," he told MacWEEK.