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Technology Stocks : USWeb (USWB) -- Ignore unavailable to you. Want to Upgrade?

To: TokyoMex who wrote (650)	11/5/1998 11:15:00 AM
From: flyboy	Read Replies (1) \| Respond to of 1188

Good call Joe... Big news Firmage replaced!!! This should lead to a long ride up... investors have been leary of Firmage for some time! Shaw to replace Firmage at USWeb By Sandeep Junnarkar Staff Writer, CNET News.com November 5, 1998, 7:40 a.m. PT USWeb announced today that it has named Robert Shaw as its CEO, while its current chairman, CEO, and cofounder Joe Firmage will become the company's chief strategist. The firm provides strategic Internet services to help its clients to try to pull-in revenue, profit, market share, and customer loyalty through Internet strategies and systems. QUOTE SNAPSHOT November 5, 1998, 7:46 a.m. PT USWeb Corp. USWB 18.6875 +1.7500 +10.33% CKS Group Inc. CKSG 24.3750 +2.0625 +9.24% > more from CNET Investor > Investor message boards Quotes delayed 20+ minutes The company said that Shaw brings with him a strong background of building global professional service organizations. Prior to this appointment, Shaw was executive vice president for worldwide consulting services at Oracle. During his six years at Oracle, Shaw was responsible for building the global consulting organization and infrastructure, setting strategy, defining the services offering, service delivery, and client satisfaction. "I want to stress and point out that this announcement is done from a position of exceptional strength," said Firmage during a telephone conference. "We have chosen to take this step proactively--this is not reactive to any issue or concern." Professional services companies are playing a larger role in the market, with research firm IDC projecting that there will be a 50 percent increase in the size of the market during the next 12 months, according to Firmage. "I think we have a tremendous headstart," Shaw said during the conference call. "That is not to say that there won't be competition." USWeb will have to compete with newly formed companies as well as the established powerhouses like Booz Allen & Hamilton and PriceWaterhouseCoopers. "We must out-execute the upstarts," added Shaw. "And by being more nimble and smarter and leading the market we will work against the more traditional firms." Shaw oversaw the recruiting and professional development of more than 15,000 consultants in Oracle's worldwide consulting services group. He helped grow the organization to profitability and revenues in excess of $2.5 billion during his tenure at Oracle. Prior to joining Oracle, Shaw was the partner responsible for the San Francisco office of Booz Allen & Hamilton and was also managing partner in charge of the IT practice for a subsidiary of Coopers & Lybrand. Firmage will move into a new role as chief strategist. He said he will focus on translating the paradigm-shifting forces created by the emergence of the Internet into practical business advice for clients. "I will be able to use my intellect and strategic vision for the company as a whole," Firmage said about his new position. "I don't have an ego for my title of CEO. I always want people to hire better people than themselves in their divisions." Upon the planned completion of the merger of USWeb with CKS Group to form Reinvent Communications later this year, Shaw will become CEO of Reinvent and will be a member of the board. Mark Kvamme, chairman of CKS, is expected to become chairman of the board of the new combined company. The merger is still pending regulatory and stockholder approval, and the company said it is on track and may close by the end of November. Upon it completion, the combined companies will be able to take a customer from designing its Web-based strategy and site to setting a marketing plan and allowing customers to conduct e-commerce transactions. Firmage will also contribute to developing business strategy for USWeb and Reinvent Communications after the expected close of the merger. Firmage will continue his service on the board of directors. He will report to Shaw. Toby Corey, USWeb's president and COO, concluded: "We are confident that Shaw can lead the company to the next level." Good Luck! C I A O