Salon.com (Nasdaq: SALN), a leading Internet media company, today announced the appointment of Robert O'Callahan as Chief Financial Officer, Vice President of Finance & Administration and Treasurer. Prior to joining Salon.com, O'Callahan was a financial officer with Banter, a venture funded software development firm.
O'Callahan brings to Salon.com 25 years of business and financial management, as an attorney, CPA, investment banking analyst and private and public company senior financial executive. Before joining Banter, O'Callahan worked in capital markets as a technology industry analyst for Dain Bosworth, Inc., (now Dain Rauscher Wessels) and John G. Kinnard & Co., both Minneapolis-based investment banking firms with established businesses in mergers and acquisitions, retail brokerage, equity research and institutional sales.
Says Michael O'Donnell, CEO of Salon.com, "We're thrilled to have Bob join Salon.com as our new Chief Financial Officer. He has the business acumen and proven track record of growing companies to profitability and will be a great ambassador to the investment community. His breadth of experience makes him a powerful asset to Salon.com."
Prior to Dain, O'Callahan was Chief Financial Officer of Consan, Inc. (a Gates/Arrow Company), a wholesale distributor of digital mass storage equipment, where he grew the company's revenue five-fold, from $14 million to $70 million, until it ultimately became Gates/Arrow. He earlier held financial management positions with Target Corporation, which currently has 850 stores and $22 billion in sales. O'Callahan began his career as an attorney with Trethewey & Brink in Seattle, Washington.
Says O'Donnell, "Bob's hire, with the recent addition of Steve Reed, our Senior Vice President of Media Sales, completes our management team and puts Salon.com in better position to execute our goals to drive revenue growth and get to profitability."
O'Callahan holds his masters of Management, with concentrations in Marketing and Finance from the Kellogg Graduate School of Management at Northwestern University, his Juris Doctor degree from the University of Washington School of Law, and his Bachelor of Arts from the University of Washington. O'Callahan will begin at Salon.com on July 24th.
About Salon.com
Salon.com ( http://www.salon.com ) is a leading Internet media company that produces a network of 11 award-winning, original content sites; maintains Salon Shop, an e-commerce gateway; 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 Lycos, 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 3.7 million unique visitors in March 2000.
This announcement contains forward-looking statements concerning revenue growth and profitability that involve risks and uncertainties. Actual results could differ materially from those discussed. More information about factors that potentially could affect Salon.com's financial results is included in the Company's filings with the Securities and Exchange Commission. All forward-looking statements are based on information available to the company on the date hereof, and the Company assumes no obligation to update such statements.
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