| 2016-10-03 16:07:00|
MCHX, OMC 16:07 10/03 10/03/16
Marchex CEO Pete Christothoulou resigns
Marchex (MCHX) announced changes to its executive leadership team to improve its operational performance and focus on returning the company to profitability. Pete Christothoulou has resigned as CEO, effective immediately. In addition, Clark Kokich has resigned as a member of the board of directors. Anne Devereux-Mills, board member, has assumed responsibilities as Chairman of the board of directors, effective immediately. She has more than 25 years of executive leadership experience in global advertising and marketing organizations. Previously, Devereux-Mills was an executive at the Omnicom Group (OMC), where she held roles of President, CEO and Chairman for companies within the Omnicom Group. The board of directors has created an Interim Office of the CEO subject to oversight by Anne Devereux-Mills as Chairman and comprised of the following members: Russell Horowitz, former CEO and Chairman of the Board and current consultant to the company, Michael Arends, Chief Financial Officer; Ethan Caldwell, Chief Administrative Officer and General Counsel; and Gary Nafus, Chief Revenue Officer. The Board of Directors will begin a search for the company's next CEO.