InfoSpace terminates Naveen Jain, installs Voelker as Chairman, CEO

By siliconindia   |   Monday, 23 December 2002, 08:00 Hrs
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InfoSpace Inc. Monday announced that the board of directors have terminated Naveen Jain as chairman and CEO. Board Director and telecommunications and technology industry veteran Jim Voelker will replace Jain as chairman, chief executive officer (CEO) and president.

BELLEVUE: Voelker, a member of the InfoSpace's board of directors since July, assumes executive responsibility for InfoSpace (Nasdaq:INSP) effective immediately, the company said in an official release. Voelker has held a variety of senior executive positions within the telecommunications and technology industries. He served as president and board director of NEXTLINK Communications Inc., now XO Communications, where he was instrumental in developing the Company vision and guiding overall operations from inception in 1994 through 1998. Prior to NEXTLINK, Voelker served as CEO and board director of U.S. Signal, where he successfully directed the merger and operation of various entities into a single unit which became the first full service competitive local exchange carrier in the U.S. "InfoSpace has established a growing list of industry leading customers and partners, a talented and dedicated employee base, and a strong balance sheet, which makes this a compelling opportunity," said Voelker. "I believe we have the people, products and the financial strength to capitalize on the opportunities in front of us." "The experience and accomplishments Jim has achieved throughout his impressive career show the potential for what he can accomplish at InfoSpace," said InfoSpace Director and Chair of the Executive Succession Planning Committee Gen. Richard D. Hearney. "He was the natural choice to lead InfoSpace into the next phase of its development."