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Infospace Rearranges Management Team

InfoSpace today announced a slough of management changes, including the reappointment of Naveen Jain as Chief Executive Officer, effective immediately. In addition, the company has internally appointed a new COO and CFO.

"At first glance it seems like there are a lot of changes in the management, but the facts are that very little has changed from the perspective our business and our employees," said Jain. "We are realigning our respective loads to provide peer leadership to our employees and very focused goals for our businesses. I am a firm believer that if we do what is best for our business and our employees, it ultimately turns out to be what's best for our shareholders."

Arun Sarin, the Company's former CEO, has elected to focus and direct his efforts on InfoSpace's wireless business and international strategy from his position as vice chairman.

Sarin's extensive travel and commuting schedule caused him to realize that he could not sustain his pace as InfoSpace CEO and meet family obligations, as his family resides in the San Francisco Bay area.

"It had become increasingly apparent that InfoSpace needed me to spend more time in Seattle. I had committed to my family that I would not ask them to move to Seattle, so I have elected to direct my efforts in other ways for the company, knowing that Naveen and Ed will provide the local level of hands-on focus that is needed," said Arun Sarin, InfoSpace's vice chairman. "I am committed to helping the company in any way that I can as a board member."

According to Sarin, he will take any steps that the company desires to ensure its success, but will not be a formal employee, to maintain the balance he is seeking between his work and home life.

InfoSpace's Board of Directors also named Ed Belsheim Chief Operating Officer. Belsheim was previously InfoSpace's Senior Vice President and General Counsel.

Russell Horowitz has elected to transition his role as Chief Operating Officer and a director to Ed Belsheim. Horowitz will now focus his efforts on expanding InfoSpace's broadband initiatives in his role as executive consultant and advisor after leading the successful integration of Go2Net with InfoSpace.

"InfoSpace is exceptionally well positioned for success and I have very much enjoyed working with the strong management team in place," said Russell Horowitz. "I will continue to work with the InfoSpace team to assist in any way that I can to ensure its continued success."

According to Jain, Horowitz will still help the company in many ways, specifically focusing on broadband, one of the areas in which Go2Net had great expertise.

In addition Tammy Halstead was appointed Chief Financial Officer, replacing Rand Rosenberg. Halstead built and directed InfoSpace's accounting team as its Chief Accounting Officer for the last several years.

According to Jain, the company's thought process in replacing Rosenberg, was to provide a centralized local management base who would be working 16 hour days, seven days a week. Rosenberg was also commuting from the Bay Area.



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