Salon.com, one of the Internet's premier media companies, announced that Todd Hagen, its chief financial officer, has resigned to become chief executive officer of AlarmX.com, an Internet e-commerce company for the security alarm industry. His resignation is effective as of May 25, 2000. Salon.com's seasoned executive team will assume Hagen's existing responsibilities until a new CFO is hired.
"Todd's been a CFO for the last 10 years and now has the opportunity to lead a company," said Michael O'Donnell, Salon.com's CEO and president. "We appreciate the contributions he brought to Salon.com and wish him well. We look forward to bringing on a new CFO shortly."
About Salon.com: Salon.com (Nasdaq: SALN; http://www.salon.com; AOL Keyword: Salon), founded in 1995 by David Talbot, is an Internet media company that produces a network of 11 award-winning, original content sites and hosts two communities -- Table Talk and The WELL. In May 2000, Salon acquired MP3Lit.com, the pioneering Web site offering quality spoken word and audio literature recordings in MP3 and Real Audio formats. Salon.com currently has relationships with more than 325 advertisers including industry leaders such as IBM, Lexus, Microsoft, EDS, Virgin Megastore Online and Intel. In December 1999, Salon.com announced a content and equity agreement with Rainbow Media Holdings, Inc., a subsidiary of Cablevision Systems Corporation and NBC. Strategic distribution partners include America Online (AOL), Lycos, Go.com, AltaVista, Reuters, CNN.com and CNet as well as wireless innovators AvantGo and Rocket eBooks. Salon.com content is also syndicated to print publications through United Features Syndicate. The site had 3.4 million unique visitors in December 1999.