Monster Founder Jeff Taylor to Launch New Internet Venture; Company To Provide Seed Capital For His New Entrepreneurial Venture
NEW YORK--(BUSINESS WIRE)--June 13, 2005--Monster Worldwide, Inc. (NASDAQ: MNST), the parent company of the leading global online careers property, Monster(R), today announced that Jeff Taylor, founder of the online job board Monster.com, will be leaving in August to establish a new venture. The company also announced its current plans to provide some seed capital for Mr. Taylor's new venture, which will not be employment-related and is still in early development. The specifics of this new venture remain confidential for competitive reasons. In addition, the company and Mr. Taylor intend to enter into an agreement that calls for Mr. Taylor to serve as an outside advisor to Monster on strategic issues and brand-building initiatives. Mr. Taylor's day to day responsibilities will be assumed by various members of Monster's executive team.
"Jeff Taylor will long be remembered for recognizing the potential of the Internet to transform the way people find jobs and companies find talent, and now, that passion for ideas has lead him to seek a new creative outlet," said Andrew J. McKelvey, Chairman and Chief Executive Officer of Monster Worldwide. "We are excited about the future of Jeff's new venture and are pleased he will remain a part of the Monster family in the role of strategic advisor."
Recognized as an innovator in both the Internet and careers industries, Monster, under the direction of Mr. Taylor, reinvented the way the world looks for employment. His "monster idea," conceived at the dawn of the World Wide Web, quickly became one of the first dot-com companies (454th registered domain on the Web) and has since grown into the world's leading online career site. Today, the Monster global network consists of 25 local language and content sites in 23 countries worldwide.
About Monster Worldwide
Founded in 1967, Monster Worldwide, Inc. is the parent company of Monster(R), the leading global online careers property. The company also owns TMP Worldwide, one of the world's largest Recruitment Advertising agency networks. Headquartered in New York with approximately 4,500 employees in 26 countries, Monster Worldwide (NASDAQ: MNST) is a member of the S&P 500 Index. More information about Monster Worldwide is available at www.monsterworldwide.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 Monster Worldwide, Inc.'s strategic direction, prospects and future results. Certain factors, including factors outside of Monster Worldwide's 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 Monster Worldwide operates, risks associated with acquisitions, competition, seasonality and the other risks discussed in Monster Worldwide's Form 10-K and other filings made with the Securities and Exchange Commission, which discussions are incorporated in this release by reference.
Monster Worldwide, Inc.
Media: David Rosa,