RealTime IT News

HotJobs CEO Boylan to Depart

By Erin Joyce

Dimitri Boylan, the acting president and CEO of online recruiter HotJobs, is exiting the company at the end of the month.

The announcement comes about three months after Yahoo! outbid TMP Worldwide to acquire the New York-based HotJobs for $436 million.

Boylan said March 31st would be his last day but that he would continue consulting for HotJobs and Yahoo! for two months in order to assist senior management with the job of integrating the two companies, post merger.

"This morning I announced that I have resigned from HotJobs in order to pursue new business opportunities," Boylan said in an internal memo circulated Tuesday and obtained by internetnews.com.

Yahoo!, based in Sunnyvale, Calif., said a search for a successor is ongoing.

"I am comfortable knowing that I have given my very best every day to make HotJobs stronger, bigger and better. I have tremendous confidence in all of you, in your abilities and your desires to succeed. My desire at this point in time is to start something new, confident that all of you can continue to take HotJobs to the next level, together with Yahoo!."

In a statement, Terry Semel, chairman and chief executive officer of Yahoo! said, "Dimitri has been instrumental in building HotJobs into the powerful service it is today. We want to thank him for staying with HotJobs to ensure the completion of the merger and overseeing a smooth transition."

Yahoo! closed its acquisition of HotJobs on February 12, 2002.

However, even though HotJobs is now part of the Yahoo! family of sites, Yahoo!'s own job board is still powered by CareerBuilder.

"CareerBuilder is still the channel partner of Yahoo! Careers. Yahoo! continues to evaluate its business alliances on an ongoing basis to determine what is best for our company, clients, and consumers," said an unnamed Yahoo! spokesperson.

"Both Yahoo! Careers and HotJobs will continue to offer all the great jobs and valuable resources they've always had, and we are moving toward integrating these services in the future," the spokesperson continued.

The HotJobs integration into Yahoo!'s listings business unit is expected to principally drive additional revenue for Yahoo! through listings fees from employers and recruiters and subscription fees for access to HotJobs' database of resumes.

Yahoo!'s winning bid for HotJobs could be just the ticket the company needs as it forges a new direction away from a heavy reliance on consumer-driven advertising dollars.

Throughout the past year and a half, HotJobs has been making inroads in the corporate headhunting arena with its AgencyExchange.com section, a site that targets staffing agencies and corporate hiring managers. It helps the company build the kind of steady revenues that Yahoo! is also looking for with its its e-commerce and subscription-based ambitions.

Boylan, 41, was named acting CEO and president in March 1, 2001 to replace HotJobs founder Richard S. Johnson who left the position but remained as chairman of the company's board of directors.

Prior to the appointment, Boylan was chief operating officer for the company. He has over 15 years of executive recruiting and operational management experience under his belt. Prior to joining HotJobs in 1997, Boylan was a recruiting specialist and managing director at technology recruiting firm OTEC, Inc.

He holds a bachelor's degree in biophysics from the University of Pennsylvania and earned a master's degree in biophysics from the University of Illinois.

"I have developed strong friendships with many of you at HotJobs and I look forward staying in touch with you," Boylan's memo said. "It's been a great pleasure to work with you all. Onward. Upward."