Two Softbank Executives Resign
El SEGUNDO, Calif., March 13 /PRNewswire/ -- Effective immediately, Lawrence P. Howorth, Executive Vice President and Chief Financial Officer, and Edward F. West, Executive Vice President of Development of SOFTBANK Interactive Marketing Inc. (SIM), have each resigned their positions as officers, members of the board of directors, and executive managers and employees of SIM.
SIM is in the business of interactive advertising sales. It came into being in June 1996 through the merger of Interactive Marketing Inc. (IMI) and Network 1.0 LLC with the interactive division of Ziff Davis, a subsidiary of SOFTBANK Holdings Inc. Howorth, a partner in IMI, became president and CFO of the new company at that time, and West, a partner in Network 1.0, became Chief Operating Officer.
During their tenure with the company, it grew to become a market leader in interactive advertising sales, with $50 million in gross media sales bookings announced in its first 12 months of business.
Controlling interest in SIM was acquired from SOFTBANK Holdings Inc. by ZULU-tek, Inc. (formerly Netmaster Group, Inc.) (OTC Bulletin Board: NETZ) on December 31, 1997. On March 9, 1998, Enhanced Services Company, Inc. (Nasdaq: ESVS) announced that it had made an investment in ZULU-tek, Inc.
Howorth and West each cited personal reasons for their resignations from SIM and said they plan to pursue other professional opportunities.
SOURCE SOFTBANK Interactive Marketing, Inc.
CO: SOFTBANK Interactive Marketing, Inc.
ST: California
IN: MLM CPR
SU: PER
03/13/98 21:34 EST prnewswire.com |
