LookSmart Announces Ted West to Resign as President and Chief Executive Officer -
<...West has stepped down from his role as President and Chief Executive Officer of the company, as well as resigned his seat on the company's Board of Directors, effective immediately.>
< "On behalf of the Board of Directors, we want to thank Ted for his contributions and efforts as President and Chief Executive Officer over the past two years, and wish him success in his future endeavors.">
The board has spoken and have spoken well. No "half measures" were required in this situation. And understandably so. - - - I do hope that all board members and staff can stay strong and, will bond together and remain enthusiastic on and for, the road ahead.
Australian shareholders may note .... ...I had then followed it up, with yet another: #.. AdReady are also another of those "suspect" representatives or, agents on-selling the Looksmart AdCenter under a private labeled arrangement, like I have suggested over here in OZ (only yesterday), that "Triggit.com" are doing... [Visit website http://triggit.com] ..# Looksmart's (now) 'ex' Ted West had a duty to seek approval from the board on most things of importance when acting for and on behalf of the board and shareholders. LC
Link: [Advertisers Are Scrutinizing and Optimizing Says AdReady CEO Finn]
Ted West was (at all times) supposed to be working for Looksmart, NOT the IAB, Yahoo, Microsoft, AdVertise.com [ re: Partner in ABCSearch (b)] or, soley for "himself". It was NEVER Ted's game, only. Full stop.
It makes you wonder if, following my posting of (what appeared to be) the "fabulous" progress (in it's traffic growth), that's being made by the Looksmart partner AdVertise.com's (and such an insignificant search engine) site, that, the board then got to ask a question or, two? ("The straw that broke the camel's back"? - Ya neva know, of course.)
His sacking will now see Looksmart start to progress and surely there'll be a little more 'transparancy' shown in that regard, for the "eyes" of loyal and intending shareholders.
Looksmart do have a "last card manilla" (in Google) IF they happen to be pushed around a little by the 'powers to be', in MHO. And the Co should never discount a fully confident 'doubling up' on that last card. (Only, if need be?), As it remains a "winning" possibility and to be used as "strong" leverage in any unfair or, totally lop-sided (negotiation approach), that may be put to it. (Ask me how?)
Nothing has changed in some minds & it will always remain (it seems?), that "all's fair in love and war" and business?
Hope not - And that we can quickly get on track with the "main event", just around the corner in the new year. I would also suspect that (and, in spite of a few thousand shares used up in so stupidly selling the SP down to a dollar, in the A/Hrs), those that are 'in know' WILL support the share price now that this decision has finally been made.
And that for Looksmart, the newspaper industry (& their all their digital endeavours), there will remain for all involved, some "Glimmers of Hope" [VIDEO ] :)