Dominick Porco, chairman and CEO, and Susan Danaher, executive vice-president and chief revenue officer, are among six people at Adspace Digital Mall Network, New York, who were, to put it nicely, relieved of their duties today (Tuesday, Jan. 20, 2015).
Peter Krieger, president, says that Adspace sales were down and the company missed its target for the past year, so the Board decided that a restructuring was in order.
Krieger, who has been with Adspace for eight years, remains president and Bill Ketcham remains vice-president, marketing and content development. Eric Steinert, recently executive vice-president business development, becomes chief sales officer.
The position of CEO remains vacant and Krieger says that he is not sure that the position will be filled, at least for the time being.
Ironically, although sales were down in 2014, Krieger says, “Sales to date are up 20% and we’re currently pacing a 37% increase in Q1, 2015.”