David Hills Resigns and Board Chair Edward F. West is Appointed as Interim President and Chief Executive Officer
SAN FRANCISCO, Aug 01, 2007 (BUSINESS WIRE) --
LookSmart, Ltd. (NASDAQ:LOOK) (ASX:LOK), an online advertising and technology solutions company, announced today that David Hills, LookSmart's President and Chief Executive Officer since October 2004, has resigned from his role, effective immediately. The company has appointed Edward F. (Ted) West as interim President and Chief Executive Officer effective today. Mr. West and the company's executive team will be immediately focused on maximizing the value of the company's advertising network and consumer products as well as its publisher solutions business, where the company is serving IAC Search & Media's Ask.com and has recently signed Wikia.com, both under multi-year agreements.
Mr. Hills is launching an advisory services firm that assists companies in online media to achieve their business goals. He will consult with the company on his transition for a number of months, and will assist it in accelerating its sales and business development activity in publisher solutions. Mr. West will continue as Chair of the company's Board of Directors.
"We are deeply appreciative of Dave's industry experience and contribution to LookSmart during his tenure with the company," said Mr. West, a company board member since November 2001 and Chair of the company's Board of Directors since June 2005. "He has guided the company through many challenges, and successfully restored the quality and growth of its Advertiser Solutions business. He also launched our Publisher Solutions business and led the IAC/Ask and Wikia anchor deals. The board and the company appreciate his strong and tireless efforts, and we look forward to his work on strategic publisher solutions deals. We respect his move, and wish him much continued success as he pursues this next phase of his career."
Mr. West currently serves as Managing Director of Sage Partners LLC, an advisory services firm, where he started a global venture development practice for promising early-stage companies in 2003. Mr. West served as Chief Executive Officer of Colarity Corporation, a customer knowledge management services company, from January 2001 to December 2003. From December 1999 to December 2000, Mr. West served as Chief Executive Officer of RealNames International, the global development subsidiary of RealNames Corporation, an Internet names and navigation platform provider. From May 1998 to December 1999, Mr. West served as Executive Vice President, Business Development, Sales and Marketing, at RealNames Corporation. From January 1996 to April 1998, Mr. West served as Chief Operating Officer of Softbank Interactive Marketing, a provider of marketing services and sales representation to Internet sites seeking interactive advertisers. Mr. West received an A.B. in Architecture/Urban Planning from Princeton University and an M.B.A. from Harvard Business School.
As previously announced, LookSmart will be hosting a conference call on August 2, 2007 at 5:00 p.m. Eastern Time to discuss its financial results for the second quarter of 2007.
About LookSmart, Ltd.
LookSmart is an online advertising and technology company that provides relevant solutions for advertisers, publishers and consumers. LookSmart offers advertisers targeted, pay-per-click (PPC) search advertising and banners via its consumer Web properties and a monitored ad distribution network; a customizable set of private-label solutions for publishers; and vertical search sites and web tools for consumers. LookSmart is based in San Francisco, California. For more information, visit www.looksmart.com or call 415-348-7500.
SOURCE: LookSmart, Ltd.
LookSmart Ltd. John Simonelli, COO and CFO 415-348-7501 firstname.lastname@example.org or Integrated Corporate Relations Allyson Pooley 310-954-1100 email@example.com
Copyright Business Wire 2007
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