NEW YORK--(BUSINESS WIRE)--June 12, 2006--Monster Worldwide, Inc.
(NASDAQ: MNST), the parent company of Monster, the leading global
online careers and recruitment resource, today announced that a
committee of independent directors of the Company has been conducting
an internal review and analysis of all stock option grants previously
issued by the Company. The committee of independent directors has
retained independent outside legal counsel to assist in this matter.
Monster Worldwide's broad-based stock option incentive plan was
used as an effective tool to facilitate its growth. The option grants
were used to attract and retain employees, to recognize individual
performance and in conjunction with strategic acquisitions. Monster
Worldwide sought to distribute option awards broadly throughout the
organization. Of the options granted by Monster Worldwide or
predecessor companies whose options converted into Monster Worldwide
options upon acquisition, more than 70 percent were issued to
individuals other than insiders. Monster Worldwide noted that
consistent with developments in executive compensation, in 2006 the
Company commenced providing performance-based incentives to senior
leadership through a restricted stock unit program rather than through
stock options.
About Monster Worldwide
Founded in 1967, Monster Worldwide, Inc. is the parent company of
Monster(R), the leading global online careers and recruitment
resource. The Company also owns TMP Worldwide, one of the largest
Recruitment Advertising agencies in North America. Headquartered in
New York with approximately 4,300 employees in 25 countries, Monster
Worldwide (NASDAQ: MNST) is a member of the S&P 500 Index and the
NASDAQ 100. More information about Monster Worldwide is available at
www.monsterworldwide.com.
Special Note: Except for historical information contained herein,
the statements made in this release constitute forward-looking
statements within the meaning of Section 27A of the Securities Act of
1933 and Section 21E of the Securities Exchange Act of 1934. Such
forward-looking statements involve certain risks and uncertainties,
including statements regarding the Company's strategic direction,
prospects and future results. Certain factors, including factors
outside of our control, may cause actual results to differ materially
from those contained in the forward-looking statements, including
economic and other conditions in the markets in which we operate,
risks associated with acquisitions, competition, seasonality and the
other risks discussed in our Form 10-K and our other filings made with
the Securities and Exchange Commission, which discussions are
incorporated in this release by reference.
CONTACT: Investors and Media:
Monster Worldwide
Robert Jones, 212-351-7032
bob.jones@monsterworldwide.com
or
Weber Shandwick
Peter Duda, 212-445-8213
pduda@webershandwick.com
SOURCE: Monster Worldwide, Inc.
