The consolidation in both technology platform and product/service teams was completed in February, with savings far exceeding estimates, company officials said, and the leadership of these newly promoted executives will be a deciding factor in the company's move toward profitability in Q4 02.
Chief Executive Officer David Moore becomes Chairman of 24/7 Real Media's Board of Directors, with Board Secretary and Company General Counsel Mark Moran adding the title of Executive Vice President. Chief Operating Officer Tony Plesner becomes President and COO of North American operations for the Company, adding to his responsibilities the management of all US and Canadian operating units. Jonathan Hsu, who had managed Corporate Development for Real Media, becomes Senior Vice President for Corporate Development, including all venture activities and high-level partnerships. He will continue to report to Executive Vice President and CFO Norman Blashka, who also joined from Real Media.
"The new titles reflect added roles for all of these executives," said Moore in a release. "Their management of the consolidation of both our technology platforms and of our teams after the merger of 24/7 Media and Real Media has left us very well positioned. Thanks especially to the cost-cutting and integration efforts of Tony, Norm, and their people, our burn rate is way down and we're tracking nicely toward our goal of profitability in Q4 02."