Monster: Management Shakeup Seen As Move Away From Buyout Plans

Monster Worldwide (MNST) announced a management reorganization plan, which includes a new chief financial officer. Lanny Baker, who spent years as an analyst covering the Internet sector and before that media stocks for Citigroup, is leaving “in order to pursue other career opportunities and business interests.”

Replacing Baker is Timothy Yates, who most recently had been CFO at Symbol Technologies, which is now owned by Motorola (MOT). He also worked for 25 years at Bankers Trust, at one point serving as CFO. Yates will also join the company’s board.

Also leaving the company is Doug Klinger, who had the title president of Careers North America.

Monster realigned a number of other others roles; you can read the release for the details.

The company will take a $3 million charge associated with the executive departures.

Investors seem unhappy with the news; in general, changing the CFO does not make people happy. I wonder if part of this reflects an interpretation that the company is signaling that it is not about to be acquired - there have been lingering rumors that the company could sell, but a management realignment would seem to be a move you would take as a company that intends to stay independent.

MNST 1-yr chart: