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Monster Appoints New Chief Financial Officer for North American Region
As CFO, Power will work in partnership with the senior management team to manage and direct profitable growth of the organization through efficient operations, financial and asset management. Power will participate in strategic profit and financial planning, and economic valuation analysis. He will play a key role in all stages of the acquisition process, as well as review marketplace strategy, evaluate new growth and profit initiatives for Monster in North America. Power replaces Claire Martin, who is taking on a new role as the CFO of Monster's European operations based in London.
Formerly of Nortel Networks, an $18 billion global Internet and telecommunications equipment and services provider, Power held a variety of executive positions in finance, strategy and business operations. During his 14-year career with Nortel, Power held the position of Vice President, Finance for the North American Region, where he was CFO of the North American sales region. He built and led a team of 50 finance professionals located across North America and the Caribbean.
"We are pleased to welcome Chris as a key member of Monster's senior management team," said Steve Pogorzelski, President of Monster, North America. "We're confident his leadership and management skills will help ensure the continued growth of Monster as the online career management leader. His vast experience at Nortel Networks will enable him to quickly adapt to our business and financial operations."
"I'm excited to be joining Monster. Since its inception, Monster has led the industry, and done so as a profitable business, while growing at a phenomenal rate," said Chris Power. "I look forward to taking on this leadership role in finance, to move the organization to new levels of performance, and to propel Monster's continued growth and profit margins."
Corporate Bio for Chris Power
While Power served as the Vice President, Finance for the North American Region and CFO for Nortel's North American sales region, revenue reached $5 billion with 3,000 customers. Power was a key decision-maker on all major deals negotiated in the region, leading to improved margins on new business and steady market share in a highly competitive, speed-to-market environment. Most recently, Power held the role of Vice President of Finance, Supply Management, renegotiating large vendor and manufacturing contracts. Power earned his BA and MBA from the University of Toronto. He lives in Sudbury, MA with his wife Rosemary and their three children, Austin, Shane and Natashia.
About Monster
Monster, headquartered in Maynard, Mass., is the leading global careers website, recording over 47 million unique visits during the month of April 2002 according to independent research conducted by I/PRO. Monster connects the most progressive companies with the most qualified career-minded individuals, offering innovative technology and superior services that give them more control over the recruiting process. The Monster global network consists of local content and language sites in the United States, United Kingdom, Australia, Canada, the Netherlands, Belgium, New Zealand, Singapore, Hong Kong, France, Scotland, Germany, Ireland, Spain, Luxembourg, India, Italy, Sweden, Norway, Denmark, Switzerland, and Finland. Monster is the official online career management services sponsor of the 2002 Olympic Winter Games and 2002 and 2004 U.S. Olympic Teams. More information about Monster is available at www.monster.com or by calling 1-800-MONSTER.
About TMP Worldwide
Founded in 1967, TMP Worldwide Inc., with more than 10,000 employees in 32 countries, is the online recruitment leader, the world's largest Recruitment Advertising agency network, and one of the world's largest Executive Search and Executive Selection agencies. TMP Worldwide, headquartered in New York, is also the world's largest Yellow Pages advertising agency and a provider of direct marketing services. The company's clients include more than 90 of the Fortune 100 and more than 490 of the Fortune 500 companies. In June 2001, TMP Worldwide was added to the S&P 500 Index. More information about TMP Worldwide is available at www.tmp.com.
Special Note: Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: Except for historical information contained herein, the statements made in this release constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements involve certain risks and uncertainties, including statements regarding the company's strategic direction, prospects and future results. Certain factors, including factors outside of our control, may cause actual results to differ materially from those contained in the forward- looking statements, including economic and other conditions in the markets in which we operate, risks associated with acquisitions, competition, seasonality and the other risks discussed in our Form 10-K and our other filings made with the Securities and Exchange Commission, which discussions are incorporated in this release by reference.
CONTACT:
Monster
Colleen McGrath, 978/461-8303
colleen.mcgrath@monster.com
