August 9, 2005 - (HOSTSEARCH.COM) - Online marketing firm Interland, today announced a key step in its strategic restructuring plan. Chairman and CEO Joel J. Kocher announced the hiring of Jeffrey M. Stibel, former United Online, Inc. (NASDAQ:UNTD) senior vice president as his successor, effective August 11, 2005. Mr. Kocher will relinquish his CEO position to Mr. Stibel, transition out of management and remain on the Board of Directors. Mr. Stibel is expected to be appointed to the Board of Directors.
"I am extremely pleased to name a successor as uniquely qualified as Jeff. His extensive experience in marketing and technology makes him the perfect fit to take Interland to its goal of being the marketing services and applications leader for small businesses," said Mr. Kocher. Jeff is a proven industry executive and brings a wealth of experience and capabilities to our company.
Prior to joining Interland, Mr. Stibel was senior vice president for United Onlines Web services division, with responsibilities including Web hosting, email, online digital photos, search and domain registration across numerous brands. Prior to working for United Online, Mr. Stibel was Chairman and CEO of Simpli.com Inc., a search and marketing technology company currently owned by ValueClick, Inc. As a founder, he led Simpli.com from its inception and played a central role in all areas of the business, including general management, marketing, securing capital, strategic planning and business development. Mr. Stibel previously worked at GTE (Verizon) on SuperPages, an online yellow pages and ecommerce business directory. In addition, he has worked in mergers and acquisitions at the law firm of Skadden, Arps, Slate, Meagher & Flom LLP and in marketing for The Greenfield Consulting Group. He currently serves on the board of directors for several private companies. Mr. Stibel received a masters degree from Brown University and studied business and brain science at MIT's Sloan School of Management and at Brown University, where he was a Brain and Behavior Fellow.
I am excited about the opportunity to grow Interland into a world-class online marketing services company, said Mr. Stibel. I look forward to working with the companys extremely talented employees. Having built and grown several companies in the past, I feel confident that my skill set and ability to execute, along with this great team, is a winning combination for Interland.
I am confident that under Jeffs leadership we will be able to strengthen the value of our company and grow the business, said Mr. Kocher. The decision to transition was my choice. It is the right time for a CEO change and Jeff is well suited to lead in the next phase of our growth as a company. Commuting for five years has been very hard on my young family. I now look forward to spending more time with them. I intend to remain on the board and to support Jeff in any way I can.
In addition, Interland has announced the nomination of three new members to its Board of Directors, including a new chairman. The new nominations include Seymour Holtzman as Chairman of the Board. Mr. Holtzman has been involved in public companies for over 40 years and is currently director and Chairman of the Board of Casual Male Retail Group, Inc. In addition, Efrem Gerszberg, current President and Chief Operating Officer of MM Companies, Inc., and Alex Kazerani, founder of HostPro and VP of KnowledgeBase Group at Talisma Corporation, have also been nominated to the Board of Directors.
"On behalf of the Board of Directors and myself, we are excited about Jeff coming onboard," said Mr. Holtzman. "We would all like to thank Joel for his strong leadership during his tenure, and for moving the company in this new direction. We look forward to his continued effort as an active member of the board."