CoolSavings chairman steps down
CoolSavings, a Chicago-based e-marketing company that provides targeted
advertising and promotional incentives to online and offline companies, is
undergoing staff changes in conjunction with its recent announcements of
layoffs and new funding. The founder of CoolSavings, Steven Golden,
announced his resignation as chairman and CEO. Golden will remain a director
and a significant stockholder in the company. Matthew Moog, president, will
assume responsibility of CEO and board member. Paul Case, CFO, also has
resigned. Laurie Streling, senior vice president and controller will assume
interim CFO duties until the company names a permanent successor.
The company reported earlier this week that it is getting $15 million in
funding from Landmark Communications Inc. CoolSavings plans to use the funds to
develop new products and services. The company also laid off 26% of its
staff—47 employees.
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