PASADENA, Calif., Apr 10, 2002 -- Overture Services, Inc. (Nasdaq: OVER), the world`s leading provider of Pay-For-Performance search to Web sites across the Internet, today announced the appointment of several senior level executives to lead its technology, human resources and editorial divisions. As part of these executive appointments, Paul Ryan was promoted to chief technology officer, Dan Morefield was appointed to the newly created position of chief information officer, Jackie DeMaria was named chief people officer and Dan Scholnick was promoted to vice president of editorial and customer operations.
"We are pleased to have assembled such a strong management team to take us to the next level," said Jaynie Studenmund, chief operating officer, Overture. "I am confident that the combination of their extensive experience and leadership capabilities will enhance the overall quality of our technology, human resources and editorial operations."
Formerly vice president of technology at Overture, Paul Ryan has been promoted to chief technology officer. In this new role, Ryan will continue to provide technology team leadership and has overall responsibility for the core technologies that support the company`s business. Ryan will also oversee research and development as well as new product initiatives.
Ryan has more than seventeen years of experience leading technology organizations and designing complex transaction-based systems for several organizations. Prior to joining Overture, he served as chief information officer at Delray Farms, LLC where he built the systems and process infrastructure for a startup grocery retail chain in Chicago. Ryan also spent more than three years at Deloitte & Touche, LLC, in Chicago, serving a variety of industrial, retail, and financial services clients in the Strategy and IT practice, as well as more than four years as a software engineer, project manager and lead systems designer for Digital Equipment Corporation.
In addition, Dan Morefield has been appointed to the newly created position of chief information officer. Morefield will manage Overture`s engineering and technical operations functions and will be responsible for building and enhancing reliable and scalable systems to assist in serving Overture`s 53,000 advertisers and thousands of affiliate partners worldwide.
Morefield brings more than 20 years of experience in leading companies, and has a proven track record of executing in rapidly changing environments. Prior to joining Overture, he was senior vice president at PayMyBills, a leading bill management company. Before joining PayMyBills, Morefield was first vice president at Home Savings of America where he managed all aspects of deposit product management, telebanking, on-line/Internet banking, business banking, and alternative delivery product activities.
In her role as chief people officer, Jackie DeMaria, will lead Overture`s human resources team including the recruiting, training, and benefits areas. DeMaria`s primary responsibilities will include strengthening Overture`s existing employee relationships and training programs.
Prior to joining Overture, DeMaria was the vice president of human resources and administration at Mitsubishi Motor Sales of America, Inc. in Cypress, Calif. At Mitsubishi, DeMaria was a member of the executive committee and was responsible for 1,200 employees across the U.S. Additionally, Mitsubishi was ranked number one in sales per employee in the automotive industry during her tenure there. Before joining Mitsubishi, DeMaria spent eight years in various human resources positions with Southern California Edison.
Dan Scholnick was promoted to vice president of editorial and customer operations where he will oversee the company`s product quality, editorial and customer service groups and serves on the executive management team. Scholnick joined Overture in May 1999 as vice president of customer operations where he managed the customer service staff as well as the internal advertiser operating systems.
Prior to joining Overture, Scholnick served as director of marketing services and systems for the Los Angeles Times. During his five-year tenure at the Times, he developed and implemented business strategies including the paper`s special editorial sections, which increased by 12% to $35 million under his leadership. In addition, he oversaw operating and revenue budgets and directly managed more than a hundred employees in the sales and marketing divisions. Before joining the Times, Scholnick was a senior analyst at American Airlines where he worked on various projects including aircraft acquisition, route planning and airport facilities improvements.
About Overture
Overture (Nasdaq: OVER), formerly known as GoTo, is the world`s leader in Pay-For-Performance search on the Internet. The company created the market for Pay-For-Performance search by redefining how businesses market online. In the fourth quarter of 2001, Overture facilitated more than 442 million paid introductions on a worldwide basis between consumers and its approximately 53,000 advertisers, who bid for placement on relevant search results and pay Overture only when a consumer clicks on their listing. Following a rigorous screening for user relevance by Overture`s 100-person editorial team, the company distributes its search results to tens of thousands of sites across the Internet, including America Online, MSN and Yahoo!, making it the largest Pay-For-Performance search and advertising network on the Internet. Overture is based in Pasadena, California. For more information, please visit www.overture.com.
Overture and Pay-For-Performance are service marks of Overture Services, Inc.
CONTACT:
Overture Services, Inc.
Al Duncan, 626/685-5714
al@overture.com
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