Anyone else hear about this:
Capping one of the largest management shakeups in recent memory, Mark Kvamme, cofounder and chairman of USWeb/CKS (Nasdaq: USWB), is becoming a VC. He joins two top execs/cofounders (Sheldon Laube and Joe Firmage) who have left the company in the past month and another (Toby Corey) who is set to leave in the fall, Head Count has learned.
Left running the show: CEO Robert Shaw, chief financial officer Carolyn Aver, and chief communications officer Tom Suiter. But Mr. Shaw is also planning an exit, one source tells us.
The entire executive team (what's left of it) was unavailable for comment.
Mr. Firmage could be a kook or a genius -- probably both.
Who wouldn't want to be a venture capitalist these days?
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Mr. Kvamme has become a partner at venture firm Sequoia Capital. He maintains his mantle as chairman of USWeb/CKS, a company spokesperson says. But he will work just one day a week at the company, our source says.
Reps of USWeb and Sequoia asked Head Count to hold the Kvamme story for a week. Why the worry? Turns out USWeb CEO Robert Shaw has been in Europe and has not been notified, nor have USWeb's employees. ("I told them they should have announced this earlier and that it would explode in their face," a USWeb insider says.)
But this has got to be one of the worst-kept secrets we've ever heard: the Sequoia Capital "Team Page" lists Mr. Kvamme as a partner. Apparently, none of the interested parties informed Sequoia's Web master about the sensitivity of the information.
Why VC? Simply put, "he wants to be a venture capitalist," one source says. "He's a very capable guy who should excel in the business."
Mr. Kvamme has extensive ties to Sequoia. He has participated in several of the firm's "partnerships." Closer to home, Sequoia partner Pierre LaMond is his father-in-law. Prior to founding CKS, Mr. Kvamme was a director of international marketing for Wyse Technology, CEO of International Solutions, and a founding member of Apple France.
Mr. Kvamme is traveling and could not be reached for comment.
DON'T LET THE FRONT DOOR HIT YOU...
Mr. Kvamme's move comes on the heels of cofounder and chief technology officer Sheldon Laube's departure to run a startup called CenterBeam.
USWeb cofounder Joe Firmage stepped down as CEO earlier this year and formally cut his ties to the company in July, after getting bad press about his beliefs in little green men.
Cofounder, president, and chief operating officer Toby Corey joined Mr. Firmage in June to launch a startup, Intend Change. Mr. Corey held onto his title of president at USWeb, but he will step out of that role when USWeb finalizes its acquisition of Mitchell Madison Group in the fall.
Trying to put a positive spin on the departures, a USWeb spokesperson chirped that the company is a backer of both Intend Change and CenterBeam.
Mark |
