Wired Ventures Announces CEO Search

Posted on July 18, 1997

Following two quarters of strong growth, Wired Ventures Inc. announced today, as part of its ongoing growth strategy, that it is initiating a search for a new CEO.

"Wired Ventures continues to realize impressive revenue growth, up 36 percent for the first half of this year as compared to the same period last year," said current CEO and co-founder, Louis Rossetto. "Now it's time to take the entire company to the next level."

"Louis has achieved the first part of his vision in the success of this powerful brand and the creation of a new kind of media company," said Nicholas Negroponte, founder and director of the MIT Media Laboratories, Wired Ventures' first investor and a major shareholder. "Today, he is again seizing the opportunity, this time to bring on a seasoned executive who will open new doors and continue to grow the company. This is the right move at the right time."

Louis Rossetto will continue as chair of the board of directors, and as editor and publisher of Wired magazine, as well as chief creative officer and director of new product development.

Wired Ventures has retained the San Francisco office of the executive search firm, Heidrick and Struggles. Rossetto and the board's search committee will be actively involved in recruiting the new CEO.

Wired Ventures Inc. is a new kind of global, diversified media company that creates branded content for print and online services. Its current businesses include Wired Magazine, Wired Books, and Wired Digital, which produces original Web content including HotWired and Wired News, and its search products HotBot and NewBot.