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Technology Stocks : Webvan Group (WBVN)

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To: SAO who started this subject	4/16/2001 1:31:35 PM
From: Bill Ulrich	Read Replies (2) of 464

Shaheen resigns: rd.yahoo.comhttp://public.wsj.com/sn/y/SB987194229541672764.html "...Mr. Shaheen handed in his resignation to the board of the Foster City, Calif., company Friday, according to company spokesman Bud Grebey. "A different kind of executive is needed to lead the company at this time and as such, it no longer makes sense for me to continue in my role and I will be leaving the company," Mr. Shaheen, 57 years old, said in a prepared statement. Mr. Shaheen has no plans to join another company, Mr. Grebey said. Mr. Grebey said that Webvan's board plans to look for an executive with more operational experience than Mr. Shaheen possessed. Chief Operating Officer Robert Swan will lead the company until the board can find a successor. A person close to Webvan said Mr. Swan has effectively been running the operations of Webvan for some time and that Mr. Shaheen's departure was 'more a question of when than why'*..."

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