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Monster Names New CFO, Shakes Up Management

Reuters
Thursday, 7 Jun 2007 | 10:42 AM ET

Shares of Monster Worldwide, parent of jobs Web site Monster.com, fell more than 2% after it said its chief financial officer was resigning in a management shake-up.

Timothy Yates will immediately replace finance chief Larry Baker, who was leaving to pursue other interests, the company said.

Monster.com
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Monster.com

Monster shares fell 2.2% to $44.85 in extended trade, after closing down 28 cents, or 0.6%, at $45.86 on Nasdaq.

The change reunites Yates, previously finance chief at Symbol Technologies, with Monster CEO Sal Iannuzzi, who held the same position at Symbol before selling it to Motorola .

Monster stock jumped early last month on speculation that it could be bought out in coming months, and analysts cited the recent appointment of Iannuzzi to the top job. In addition to leading Symbol Technologies, Iannuzzi has a background as an investment banker.

Iannuzzi was named CEO in April, becoming the company's third leader in less than a year. Founder and CEO Andy McKelvey resigned last year after refusing to be interviewed for Monster's internal investigation into stock option grants.

Iannuzzi was previously chief administrative officer of CIBC World Markets and was also a partner in an investment fund, according to Reuters data.

Steve Pogorzelski was named executive vice president, global sales and customer development, a new position for the New York-based company. He was formerly group president -International.

Brad Baker was named executive vice president, product, marketing and customer service. He had been president of product, technology and service.

Darko Dejanovic, who joined Monster recently as senior vice president, global chief information officer, was named executive vice president, global chief information officer. He will also assume the responsibilities for technology from Brad Baker, the company said.

Doug Klinger, president of careers North America, will leave Monster to pursue other opportunities.

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