NEW YORK, New York -- Greg Tarver has resigned his post as president of Robert Allen Group effective July 22. He reported to Jeffrey Cordover, chairman and CEO. His resignation follows the emergence of Altamont Group as a key investor just as their investment was increased two weeks ago.

Tarver couldn't be reached for comment but Cordover had this to say: “Greg felt that he had made the important contributions that he could and that it was time to consider new and different challenges. Looking forward, we hope and expect to remain close to Greg and him to Robert Allen and certainly wish each other well.” Greg joined The Robert Allen Group in May of 2003. "Robert Allen's new partnership with Altamont brings an extraordinary new energy to Robert Allen to assist the Company in exploring new opportunities," according to Cordover.