Online advertising company 24/7 Media Inc. said Monday President and Chief Operating Officer Tom Detmer has stepped down and will resume his position as general manager of the company's email service
business, Exactis. The move comes less than a week after 24/7 Media said its fourth quarter loss widened sharply and warned of slower growth in coming quarters amid a weak advertising market and
slowing economy.
CEO David Moore will assume Detmer's responsibilities until a permanent replacement has been named, the company said in a statement. 24/7 Media said recently it is still looking for
financing to help it reach break even targets in addition to the equity credit line it recently received for up to $50 million over two years.
- Anya Khait