CNET Networks Names Neil Ashe as New Chief Executive Officer and Director
October 11 2006 - 9:01AM
Business Wire
CNET Networks, Inc. (Nasdaq:CNET) (www.cnetnetworks.com) today
announced that its Board of Directors has unanimously appointed
Neil Ashe as the Company�s new chief executive officer and director
effective immediately. Co-founder and chief executive officer
Shelby Bonnie has resigned as chairman and CEO. The Company also
announced today that Jarl Mohn has been named non-executive
chairman of CNET Networks� Board of Directors. Mr. Mohn has
extensive experience in the media and technology industries. He has
previously served as president and chief executive officer of
Liberty Digital, Inc., founding president and CEO of E!
Entertainment Television, and executive vice president and general
manager of MTV and VH1. �CNET Networks is known for building world
class brands for people and the things they are passionate about.
It�s been an honor to work with Shelby as we have grown the company
from its technology roots and moved into new categories like
Entertainment, Food and Parenting," said Neil Ashe.�"CNET Networks
is a different kind of media company and we are committed to
continuing to be pioneers in interactive content. We have been and
will be innovators, and together with my colleagues worldwide, I am
confident about what we can accomplish. Innovation is part of our
DNA and will be fundamental to our success moving forward.� Jarl
Mohn, the newly appointed chairman of the Board, said, "Neil has
been instrumental in CNET Networks� growth and success over the
past few years both as head of corporate strategy and development
and through the operation of several business units. This
announcement marks the successful completion of the Board�s
succession planning started more than 18 months ago. Neil�s
broad-based expertise in all facets of the business, together with
his outstanding management and leadership skills, are valuable
assets that will serve our company well as we continue to expand
CNET Networks.� �I am confident under Neil�s leadership CNET
Networks will continue to play an important role in the evolving
media landscape� said Shelby Bonnie. "He will build upon the
company�s legacy and take it to new heights.� Since joining CNET
Networks in 2002, Mr. Ashe has led the company's content expansion
strategy, including numerous acquisitions to develop its existing
products and expand into new categories which attract new audience
and customer segments. His day-to-day responsibility for the
Community and Lifestyle, International, Channel, and Business
divisions has resulted in new product development, audience growth
and revenue streams for the company. Prior to joining CNET
Networks, Mr. Ashe founded and served as chief executive officer of
several start-up companies and held senior positions in private
equity�and investment banking. Mr. Ashe holds an MBA from Harvard
Business School and a BS from Georgetown University. (The Company
issued a separate release today with findings of the Special
Committee of its Board of Directors on the Company�s options
granting practices and procedures to the Board of Directors. In
addition, the Company also issued a press release today announcing
that it has modified and extended its solicitation of consents from
holders of its 0.75% Senior Convertible Notes due 2024 and updated
its third quarter and full year guidance.) About CNET Networks,
Inc. CNET Networks, Inc. (Nasdaq: CNET, www.cnetnetworks.com) is an
interactive media company that builds brands for people and the
things they are passionate about, such as gaming, music,
entertainment, technology, business, food, and parenting. The
company�s leading brands include CNET, GameSpot, TV.com, MP3.com,
Webshots, CHOW, ZDNet and TechRepublic. Founded in 1993, CNET
Networks has a strong presence in the US, Asia and Europe. CNET
Networks, Inc. (Nasdaq:CNET) (www.cnetnetworks.com) today announced
that its Board of Directors has unanimously appointed Neil Ashe as
the Company's new chief executive officer and director effective
immediately. Co-founder and chief executive officer Shelby Bonnie
has resigned as chairman and CEO. The Company also announced today
that Jarl Mohn has been named non-executive chairman of CNET
Networks' Board of Directors. Mr. Mohn has extensive experience in
the media and technology industries. He has previously served as
president and chief executive officer of Liberty Digital, Inc.,
founding president and CEO of E! Entertainment Television, and
executive vice president and general manager of MTV and VH1. "CNET
Networks is known for building world class brands for people and
the things they are passionate about. It's been an honor to work
with Shelby as we have grown the company from its technology roots
and moved into new categories like Entertainment, Food and
Parenting," said Neil Ashe. "CNET Networks is a different kind of
media company and we are committed to continuing to be pioneers in
interactive content. We have been and will be innovators, and
together with my colleagues worldwide, I am confident about what we
can accomplish. Innovation is part of our DNA and will be
fundamental to our success moving forward." Jarl Mohn, the newly
appointed chairman of the Board, said, "Neil has been instrumental
in CNET Networks' growth and success over the past few years both
as head of corporate strategy and development and through the
operation of several business units. This announcement marks the
successful completion of the Board's succession planning started
more than 18 months ago. Neil's broad-based expertise in all facets
of the business, together with his outstanding management and
leadership skills, are valuable assets that will serve our company
well as we continue to expand CNET Networks." "I am confident under
Neil's leadership CNET Networks will continue to play an important
role in the evolving media landscape" said Shelby Bonnie. "He will
build upon the company's legacy and take it to new heights." Since
joining CNET Networks in 2002, Mr. Ashe has led the company's
content expansion strategy, including numerous acquisitions to
develop its existing products and expand into new categories which
attract new audience and customer segments. His day-to-day
responsibility for the Community and Lifestyle, International,
Channel, and Business divisions has resulted in new product
development, audience growth and revenue streams for the company.
Prior to joining CNET Networks, Mr. Ashe founded and served as
chief executive officer of several start-up companies and held
senior positions in private equity and investment banking. Mr. Ashe
holds an MBA from Harvard Business School and a BS from Georgetown
University. (The Company issued a separate release today with
findings of the Special Committee of its Board of Directors on the
Company's options granting practices and procedures to the Board of
Directors. In addition, the Company also issued a press release
today announcing that it has modified and extended its solicitation
of consents from holders of its 0.75% Senior Convertible Notes due
2024 and updated its third quarter and full year guidance.) About
CNET Networks, Inc. CNET Networks, Inc. (Nasdaq: CNET,
www.cnetnetworks.com) is an interactive media company that builds
brands for people and the things they are passionate about, such as
gaming, music, entertainment, technology, business, food, and
parenting. The company's leading brands include CNET, GameSpot,
TV.com, MP3.com, Webshots, CHOW, ZDNet and TechRepublic. Founded in
1993, CNET Networks has a strong presence in the US, Asia and
Europe.
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