RealTime IT News

Internet Pioneer Departs CNET

CNET Networks Inc. Chairman and Founder Halsey Minor passed the torch Wednesday to Chief Executive Officer Shelby Bonnie as the members enjoyed elevated status on a board the company feels will lead them into the future.

Minor, who will quit the board to focus on his job as chairman and CEO of his new company 12 Entrepreneuring, will get bumped upstairs to chairman emeritus. Bonnie will also remain CEO, a position he has held since March 2000.

The network said Bonnie's efforts as CEO have helped moved the firm into the forefront of being a global media company as well as creating e-commerce platforms that connect buyers, sellers and suppliers throughout its sales channel. Bonnie also presided over the ZDNet acquisition.

A former managing director at investment firm Tiger Management, Bonnie partnered with CNET founder Halsey Minor in 1993 as the company's third employee and third investor, and served as CNET's COO, CFO and vice chairman before being elected CEO.

"Shelby has been here from the beginning and has helped build one of the strongest franchises on the Internet and in the IT supply chain," said Bud Colligan, a member of the CNET Networks board. "Shelby has been of critical importance to achieving the strategic growth that CNET has attained so far, and we believe he is the right man to take CNET Networks to the next level."

In other CNET board news, Randall T. Mays, chief financial officer of Clear Channel Communications Inc., was appointed to the board of directors, presumably to fill Bonnie's newly-vacated board slot.

In seven years at Clear Channel, Mays has been part of the company's global media growth with approximately 1,120 radio stations, 750,000 outdoor advertising displays, and 19 television stations in the U.S. as well as 240 radio stations internationally.

CNET is a direct competitor of internet.com, the parent of this web site.