NEW YORK, NY-March 1, 2001 -
HotJobs.com, Ltd. (NASDAQ: HOTJ), a leading Internet recruiting solutions company, today announced that Dimitri Boylan, currently the Chief Operating Officer and a Director, has been appointed acting Chief Executive Officer and President. Richard S. Johnson, who founded HotJobs.com in 1997, has resigned as Chief Executive Officer and President. Mr. Johnson will continue in his position as Chairman of the Board of Directors and will focus on new markets and strategic development for HotJobs.com. Mr. Boylan will serve as acting Chief Executive Officer while the Company undertakes a search for a permanent Chief Executive.
Richard Johnson commented, "As the single largest shareholder of HotJobs, I believe this is the right time to make this transition. At HotJobs, we have a first class management team led by Dimitri Boylan. Dimitri has been operating the business on a day-to-day basis and is well respected within HotJobs and the recruiting industry and has been a key contributor to the success HotJobs has earned in the marketplace. I expect Dimitri will continue to be a success in his new role and the Board has complete confidence in his ability to lead the Company.
"On a personal level, having guided the Company to annual revenues of almost $100 million in our most recent fiscal year, I wanted to focus my efforts on the development of the HotJobs vision for the future by spending my time on product development and building customer relationships."
Dimitri Boylan stated, "I believe HotJobs is well-positioned for strong growth based upon our business model, powerful brand, growing customer base, and our financial strength. Richard and I have worked closely together for over 10 years and believe that in our new roles we will lead HotJobs to the next level."
Mr. Boylan, 40, has served as Chief Operating Officer since March 1998 and previously was Vice President of Sales & Marketing.
Conference Call March 2, 2001
A conference call will be held at 8:30 am EST on Friday, March 2, 2001. The call will be Webcast live at http://www.vcall.com.
HotJobs.com Ltd. is a leading Internet recruiting solutions company that develops
and provides companies with innovative recruiting solutions and services. HotJobs.com
the company's popular consumer job board, provides a direct exchange of information between opportunity
seekers and employers. The site is the Internet's largest headhunter-free employment exchange and
includes features such as HOTBLOCK, which enables job seekers to block specific companies from
searching their resumes. Over 8,100 companies subscribe to the HotJobs.com online employment exchange.
HotJobs.com Ltd. also provides employers with progressive recruiting solutions such as its
Resumix® and Softshoe® proprietary hiring management software, Strategic Consulting Services,
Career Expos, and AgencyExchange, a newly-launched marketplace
which provides a direct, business-to-business exchange between corporate hiring managers and staffing agencies.
"Safe Harbor" Statement Under The Private Securities Litigation Reform Act: Statements in HotJobs.com's
release that are not strictly historical are "forward looking" statements which are subject to the many
risks and uncertainties that exist in the Company's operations and business environment. These risks and
uncertainties include, but are not limited to, the Company's limited operating history, history of losses
and anticipation of continued losses, potential volatility of quarterly operating results, the ability to
successfully implement the Company's expansion plans, risks related to the Internet, risks related to legal
uncertainty and other risks which are set forth in more detail in the Company's most recent report on Form
10-Q filed with the Securities and Exchange Commission on November 14, 2000, as well as other reports and
documents filed from time to time with the Securities and Exchange Commission.