Monster Worldwide Announces Leadership Changes
- Tim Yates to become Chief Executive Officer
- Mark Stoever to become Chief Operating Officer
- Sal Iannuzzi to become Non-Executive Chairman of the Board
WESTON, Mass., Nov. 4, 2014 -- Monster Worldwide, Inc. (NYSE: MWW) announced today that effective immediately, Salvatore Iannuzzi has stepped down as Chief Executive Officer and President. Timothy Yates, a Director of Monster and formerly its Executive Vice President and Chief Financial Officer, has been appointed Chief Executive Officer. Monster also announced that Mark Stoever has been appointed Chief Operating Officer of the Company.
Mr. Iannuzzi, who has stepped down for personal reasons, will continue to serve as a Director and Non- Executive Chairman of the Board. In this role, he will assist the Company in the implementation of the strategic plan that the Company has adopted and announced to shareholders.
Ed Giambastiani, Monster's Lead independent Director said, "Monster is grateful for Sal's dedication and abilities in developing the strategy that promises to transform our company. We have the best products and solutions for our clients on a global basis and are rapidly delivering them to the markets we serve. We appreciate Sal's agreement to serve as Non-Executive Chairman. Sal will be available to assist in the completion of the strategic plan that was begun and was well under way under his leadership."
"Monster has depth of talent in its management team. We are fortunate that Tim has agreed to undertake leadership as the company continues to advance. Tim's familiarity with our company and its strategy make him uniquely qualified for this role."
"I look forward to continue working with Sal and my long time colleagues as we continue to implement our new strategy," said Mr. Yates. "I am especially pleased that Mark Stoever, who has been a critical contributor to Monster, will be working with me and our leadership team. We appreciate Sal's leadership in the development and implementation of our strategy, which is designed to bring together all the people and all the jobs with end-to-end solutions to attract, engage and deliver candidates for our customers. We are excited to see the success of the strategy which Sal pioneered. We value the continued help that Sal will be providing in his new role as non-executive chair."
About Monster Worldwide
Monster Worldwide, Inc. (NYSE: MWW), is a global leader in successfully connecting job opportunities and people. Monster uses the world's most advanced technology to help people Find Better, matching job seekers to opportunities via digital, social and mobile solutions including monster.com®, our flagship website, and employers to the best talent using a vast array of products and services. As an Internet pioneer, more than 200 million people have registered on the Monster Worldwide network. Today, with operations in more than 40 countries, Monster provides the broadest, most sophisticated job seeking, career management, recruitment and talent management capabilities globally. For more information visit monster.com/about
Special Note: The statements in this release that are not strictly historical, including, without limitation, statements regarding the Company's strategic direction, prospects and future results, 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 and, therefore, actual results may differ materially from what is expressed or implied herein and no assurance can be given that the Company will achieve, among other things, its outlook with respect to earnings per share for the third quarter 2014. Factors that could cause results to differ materially from those expressed or implied by such forward-looking statements include, but are not limited to, economic and other conditions in the markets in which we operate, risks associated with acquisitions or dispositions, competition, 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 into this release by reference. Many of the factors that will determine the Company's future results are beyond the ability of management to control or predict. Readers should not place undue reliance on the forward-looking statements in this release as they reflect management's views only as of the date hereof. The Company undertakes no obligation to revise or update any of the forward-looking statements contained in this release or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE Monster Worldwide, Inc.