Shake-up at ValueClick, CEO Steps Down
Today ValueClick, Inc. announced that its board of directors has elected Tom A. Vadnais as the Company’s new Chief Executive Officer. The change comes on the heals of a troublesome analysts report on the methods driving ValueClick’s growth and now an active FTC investigation into lead generation practices.
Mr. Vadnais has been a member of the Company’s board of directors since October 2001 and has also held a number of senior management roles within ValueClick during this time, including his most recent role as President of U.S. operations. Mr. Vadnais succeeds James R. Zarley, who has served as ValueClick’s Chief Executive Officer since 1999.
With all the acquistion activity, ValueClick’s stock has recently climbed double digit percentages due to strong earnings and rumors of potential acquisition opportunities. Mr. Zarley has sold a significant stake of ValueClick shares (stock symbol: vclk) valued at nearly $20 Million dollars in 2006.This sudden transition has left shareholders and analysts asking if there’s a relationship to the change in position with theFTC investigation. Mr. Zarley was emphatic that there was no connection and that this was the right time for the transition.
Mr. Zarley states he will remain a full-time ValueClick employee and will continue to play an active role in the Company. Mr. Zarley has been named ValueClick’s executive chairman of the board of directors, focusing primarily on the Company’s strategic direction and the gradual management transition of the Company’s operations. “Tom and I have been partners since 2001 and we have worked closely together over the past year while Tom served as president of U.S. operations. I am delighted to formalize his role as our new chief executive officer,” said James R. Zarley. “Tom and I will continue to partner to take the Company to the next level, and I am as confident as ever in ValueClick’s unique position to benefit from the growth in the online marketing industry.”
“Jim and I, and the rest of the team, have worked hard to make ValueClick one of the largest and most comprehensive online marketing companies in the world, and I welcome the opportunity to help lead ValueClick during this exciting time for the Company and the industry,” said Tom A. Vadnais, chief executive officer of ValueClick. “My focus will be on continuing ValueClick’s successful track record and capitalizing on the opportunities that exist for all of our businesses.”
Mr. Vadnais joined ValueClick in October 2001 through the Company’s acquisition of Mediaplex, where he was president, chief executive officer and a member of the board of directors. Mr. Vadnais became a member of the ValueClick board of directors in October 2001 and also has held general manager roles for the Company’s Mediaplex technology and Commission Junction affiliate marketing businesses. In June 2006, Mr. Vadnais was promoted to the role of president of ValueClick’s U.S. operations.
Duringtheir analyst call to announce Zarley’s role change ValueClick stressed that it was open and welcoming to potential acquisitions andfully expect to maintain growthand this management shiftwouldn’t impact that. However, analysts clearly have a wait and see attitudeon how the stock will be impacted in the coming days to the evolving news and changes ofthe industry.
To listen to Wednesday’s analysts call please visit: ( http://web.servicebureau.net/conf/meta?i=1112935751&c=2343&m=was&u=/w_ccbn.xsl&date_ticker=VCLK)
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