NEW YORK--(BUSINESS WIRE)--April 12, 2007--Monster Worldwide, Inc.
(NASDAQ: MNST) today announced that its Board of Directors has named
Sal Iannuzzi Chairman and Chief Executive Officer, effective
immediately. Mr. Iannuzzi has been a member of the Board of Monster
Worldwide since July 2006 and has served as Chairman of the Executive
Committee since October 2006.
Monster Worldwide also announced that its President and Chief
Executive Officer, William M. Pastore, will leave the Company by
mutual agreement with the Board. The Company noted that Mr. Pastore
provided valuable leadership during a key transition period, and
Monster Worldwide is fortunate that he will be succeeded by Mr.
Iannuzzi, an experienced corporate CEO with a track record of
improving corporate performance and driving innovation. Mr. Pastore
will continue to be employed by the Company through June 2007 to
facilitate an orderly transition.
Mr. Iannuzzi, 53, was previously President and CEO of Symbol
Technologies, which was acquired by Motorola, Inc. in January 2007. He
served as non-executive Chairman of the Symbol Board from December
2003 to April 2005, and later was Chief Administrative and Financial
Officer before being named Symbol's CEO. Mr. Iannuzzi's tenure at
Symbol was distinguished by product innovation, customer
diversification, cost structure improvements and enhanced
profitability. Prior to joining Symbol, Mr. Iannuzzi served in a
number of business and corporate governance-related roles with Bankers
Trust Co., culminating in the position of Chief Control Officer. He
also worked with several other financial services firms, as well as a
predecessor firm to KPMG.
"I am excited to take on this new role with Monster Worldwide,
which enjoys a leadership position in the online career services
market, a globally-recognized and respected brand, a track record of
profitable growth, and a team of talented and extremely dedicated
employees. In my new position, I will focus on the next stage in our
development by executing on strategic initiatives to drive growth
across all our business lines," said Mr. Iannuzzi.
"On behalf of the Board of Directors, I want to thank Bill Pastore
for leading the Company during a difficult transitional period. Under
his direction, Monster Worldwide completed the financial restatement
related to historical stock option issues and returned to compliance
with SEC and NASDAQ listing requirements," Mr. Iannuzzi added. "We
appreciate Bill's contributions and wish him the very best for the
Mr. Pastore, age 59, was named CEO of Monster Worldwide in October
2006, after serving as Chief Operating Officer since October 2002. The
Company will record a charge in the second quarter related to Mr.
Pastore's employment agreement.
About Monster Worldwide
Monster Worldwide, Inc. (NASDAQ: MNST), parent company of
Monster(R), the premier global online employment solution for more
than a decade, strives to bring people together to advance their
lives. With a local presence in key markets in North America, Europe,
and Asia, Monster works for everyone by connecting employers with
quality job seekers at all levels and by providing personalized career
advice to consumers globally. Through online media sites and services,
Monster delivers vast, highly targeted audiences to advertisers.
Monster Worldwide is a member of the S&P 500 Index and the NASDAQ 100.
To learn more about Monster's industry-leading products and services,
visit www.monster.com. More information about Monster Worldwide is
available at www.monsterworldwide.com.
Special Note: Safe Harbor Statement Under the Private Securities
Litigation Reform Act of 1995: 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 Monster Worldwide,
Inc.'s strategic direction, prospects and future results. Certain
factors, including factors outside of Monster Worldwide's 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 Monster Worldwide operates, risks associated
with acquisitions, competition, seasonality and the other risks
discussed in Monster Worldwide's Form 10-K and other filings made with
the Securities and Exchange Commission.
CONTACT: Monster Worldwide, Inc.
Robert Jones, 212-351-7032
Rich Teplitsky, 212-351-7019
Kathryn Burns, 212-351-7063
SOURCE: Monster Worldwide, Inc.