LONDON (Brand Republic) - Dan Thompson, CEO of sport and entertainment internet firm 365 Corporation, is to stand down from his position in June.
He will continue to act as a consultant for the troubled dotcom, which owns a range of content-based websites including Football365, Rugby365 and Music365.
The company has seen its shares continue to steadily fall since its flotation on the London Stock Exchange in December 1999. Its shares debuted at 160p and reached a peak of 259p. This morning its shares were trading at a new low of 22.5p.
No direct replacement has been named but company finance director Martin Turner will take on the position of deputy CEO. The company also named Nik Philpot, who is currently responsible for 365鈥檚 telecoms operation, will take on the post of managing director of the consumer division.
Ian Martin, chairman of 365 Corporation, said, 鈥淒an Thompson was one of the founders of 365 in 1997 and led the flotation on the London Stock Exchange in December 1999. He has made an outstanding contribution to building the company to its present size and establishing its reputation. Dan leaves the business in good shape, focused on a clear path towards profitability.鈥
www.365corp.com