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NaviSite's CEO Resigns

NaviSite said its president and CEO, Joel Rosen, will step down at month's end.

Rosen, who joined the Andover, Mass., Web and application host in April 1999, will stay on in a consulting role. COO Trish Gilligan will serve as acting CEO while a decision is made about a replacement.

"Joel Rosen has led NaviSite's revenue growth from $10 million to $100 million, while building a strong management team, delivering higher metrics of performance of service and lowering operating costs," said David S. Wetherell, NaviSite's chairman.

Wetherell is also chairman and CEO of CMGI , majority owner of NaviSite. CMGI, an Internet investor, is currently trying to sell the company.

Rosen's immediate plans are not known.

Previously, Gilligan has held executive and technology posts at I-Cube, Cahners Publishing, Keane and Incentive Systems.

"My plans are to continue to closely manage our expense structure while focusing on the delivery of the high quality and performance metrics our customers expect," Gilligan said.

NaviSite also Andrew Hajducky, who recently left CMGI, has resigned from NaviSite's board of directors, and that George A. McMillan, CMGI's CFO, will fill his spot.

Shares of NAVI were down 0.01, or 1 percent, to 1.03 in morning trading. In the last 52 weeks, the issue has ranged from 0.968 to 53.75.