Joel Kocher, chairman and chief executive officer of web hosting services provider Interland, is giving up his CEO position.
In a statement released late Monday, Kocher said his decision was part of Interland’s “strategic restructuring plan”. Kocher will remain as chairman.
Interland (Nasdaq: INLD) reported a loss of $6.2 million on revenues of $22.3 million in the second quarter. In the past nine months, Interland has lost $67.9 million.
Kocher said the decision was his. He also named a successor — Jeffrey Stibel, a former executive at United Oline. Stibel takes over as of Aug. 11. The company said that Stibel is also “expected” to join its board of directors.
“The decision to transition was my choice,” Kocher said. “It is the right time for a CEO change and Jeff is well suited to lead in the next phase of our growth as a company.”
Kocher said he would still be involved with Interland. “I intend to remain on the board and to support Jeff in any way I can,” he added.
The executive change is the latest in a series of moves at Interland. In April, Allen Shulman, the firm’s chief financial officer at the time, was named president and chief operating officer. Shulman has been with Interland since 2001 when he joined the firm as general counsel. He was a former CFO at CheckFree.
Kocher was chairman and CEO of Micron Electronics in 2001 when its subsidiary, HostPro, acquired Interland. He has commuted to Atlanta while in the Interland post and said the travel had been difficult for his family.
“I am extremely pleased to name a successor as uniquely qualified as Jeff,” Kocher said. “His extensive experience in marketing and technology makes him the perfect fit to take Interland to its goal of being the marketing services and applications leader for small businesses.”
At United Online, Stibel served as vice president for its web services division. He also was chairman and CEO of Simpli.com, a search and marketing technology firm. He founded that company, which is now owned by ValueClick.
“I am excited about the opportunity to grow Interland into a world-class online marketing services company,” Stibel said. “I look forward to working with the company’s extremely talented employees. Having built and grown several companies in the past, I feel confident that my skill set and ability to execute, along with this great team, is a winning combination for Interland.”
Interland also has nominated three new members for its board of directors, including Seymour Holtzman, chairman of the board of Casual Male Retail Group; Efrem Gerszberg, president and chief operating officer of MM Companies; and Alex Kazerani, founder of HostPro and vice president of KnowledgeBase Group at Talisma Corporation.
Interland: www.interland.com
