Home > News > Web
Marketing Breaking News
Breaking Web Marketing News -
LookSmart CEO Resigns
January 21, 2004
Search company LookSmart said
this week that its chief executive, Jason Kellerman, will step down following
the loss of the company's biggest customer, Microsoft. Kellerman, who
will vacate his seat on the board of directors, will be replaced immediately
by Damian Smith, former head of LookSmart Australia. Smith's position
as CEO will be temporary, and Looksmart's board will conduct an executive
search for a permanent chief.
San Francisco-based LookSmart
provides sponsored search listings to third-party Web sites. Microsoft's
MSN property was its largest liaison for the past several years, providing
nearly 67 percent of the company's revenue. That partnership ended Jan.
15, and LookSmart is struggling to restructure its business. To this end,
it has laid off more than half its staff, sold assets of its Australian
operation, and closed its U.K. unit.
This follows the news just two days earlier that LookSmart
cut 50% of their already shrunken staff.
|
