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
Brexit: The UK's misunderstanding of Democracy
Putin dislikes the idea of US army bases coming to Kuril Islands
USA plays to pretend a mighty dragon that can no longer breathe fire
Brexit: The UK's misunderstanding of Democracy
Putin dislikes the idea of US army bases coming to Kuril Islands
Madrid, shame on you!
Brexit: The UK's misunderstanding of Democracy
Putin dislikes the idea of US army bases coming to Kuril Islands
Russians lose faith in their future, get ready for worse
Capital outflow from Russia sets new records
Malaysia complains of faulty Russian Sukhoi Su-30 fighter jets
Putin dislikes the idea of US army bases coming to Kuril Islands
Men's presence in maternity wards during childbirth considered shameful in Russia
Macron challenges Trump. French independence and croissants at stake
Russia’s sanctions against Ukraine send message to Washington
Russia sells arms to Asia to maintain peace in the world
The Amazon and the New Conquistadores
Putin's three days in Singapore mark Russia's major geopolitical changes since 2000
Castro sued over alleged torture
Macron challenges Trump. French independence and croissants at stake
Castro sued over alleged torture