Source AP ©

Monster Worldwide Inc. CEO departs

Monster Worldwide Inc., parent company of the online job search site Monster.com, said that William M. Pastore would depart as CEO and be replaced by Sal Iannuzzi.

The company said Pastore's exit was by mutual agreement and that he will stay on through June to help with the transition process. Pastore is 59.

Iannuzzi, 53, previously served as president and CEO of Symbol Technologies, which was acquired by Motorola Inc. in January. Pastore became chief executive of Monster in October after serving as chief operating officer since 2002.

Monster filed restated financial statements in December to include charges related to an investigation into its stock-option granting. The company found it overstated its profit by $271.9 million between 1997 and 2005.

The company said it will record a second-quarter charge related to Pastore's employment agreement.

Shares of Monster Worldwide fell 17 cents to $40.15 on the Nasdaq Stock Market.

Comments
Pilot shares his impressions after flying Su-57 fifth-generation fighter
Trump's solar wall and barefaced lies
US-Russian confrontation: War is peace, freedom is slavery
Why Russia continues investing in US public debt
Ukraine and PMC Blackwater to poison Donbass with radioactive waste
Ukraine dreams of what it can do to Crimea after winning war with Russia
Ukraine and PMC Blackwater to poison Donbass with radioactive waste
Ukraine dreams of what it can do to Crimea after winning war with Russia
Turkey desperately tries to rescue its national currency as it falls to all-time lows
Who loses and wins most from Caspian Sea division
Ukraine dreams of what it can do to Crimea after winning war with Russia
Ukraine dreams of what it can do to Crimea after winning war with Russia
Turkey desperately tries to rescue its national currency as it falls to all-time lows
Russians tired of Putin's foreign policy
Ukraine dreams of what it can do to Crimea after winning war with Russia
Why Russia continues investing in US public debt
Putin convenes Security Council meeting to discuss new sanctions
Putin convenes Security Council meeting to discuss new sanctions
Putin convenes Security Council meeting to discuss new sanctions
Putin convenes Security Council meeting to discuss new sanctions
Who loses and wins most from Caspian Sea division