Commission Junction co-founder and CEO becomes chairman

Santa Barbara, CA-based Commission Junction, one of the largest pay-for performance online advertising networks, has brought in a new CEO while moving former CEO and co-founder Lex Sisney to a new role as chairman of the board. Replacing Sisney and gaining a seat on the Board of Directors is Jeffrey Pullen, whose career has included senior positions in operations and finance at companies including ChemConnect, an online exchange for the chemical industry, and IMX, an exchange serving the wholesale mortgage industry. Pullen also is a former partner in the financial advisory services practice of Coopers & Lybrand, now PricewaterhouseCoopers.

Pullen will oversee all aspects of the company’s day-to-day operations and drive the execution of its business model. Sisney will focus on long-term strategic planning, enterprise sales and business development for the company. This year, Sisney oversaw the launch of Commission Junction’s Open Marketplace, a ratings system that provides measurable data on ad network members’ effectiveness at turning traffic into sales. Commission Junction also achieved positive operating cash flow in the fourth quarter of 2001.