24/7 Media this morning announced that Tom Detmer is
taking the role of president and chief operating officer at the online
advertising company, nudging chief executive officer David Moore out of the
president role and adding another executive to the company’s top ranks.
The move signals the company’s desire to bolster the strength of its
management team, acknowledging the rough waters the industry is sailing
through at the moment, and indicating the company’s increased focus on
profitability. In addition, the appointment is likely aimed at adding to
24/7 Media’s management expertise at a time when companies like itself —
DoubleClick, Engage, and L90 — are becoming ever more complex as they seek
to become one-stop-shops for advertisers.
“24/7 Media has grown exponentially over the past year and has become one of
the largest global competitors in the interactive marketing and technology
industry,” said Detmer. “Helping 24/7 Media realize profitability and
increased shareholder value in 2001 is our challenge and my primary
objective.”
Detmer was promoted from his post as president of its technology solutions
division, having joined 24/7 Media after the June acquisition of Exactis.com
for $490 million in stock. Detmer had been president and CEO of the e-mail
marketing outsourcer.
24/7 Media is set to report third quarter results on November 8. In early
morning trading, the stock was trading at $5.31, unchanged on the day. Like
competitor DoubleClick, 24/7 Media has seen its stock on a steady slide
since April, dropping to its current level from a 52-week high of $64.25.
